Coinbase, Kraken Secure EU, UK Crypto Expansion

Coinbase Secures Key Regulatory Approvals in Europe and UK

Coinbase, a prominent U.S.-based cryptocurrency exchange, has secured essential regulatory approvals that will enable it to broaden its services in the European Union and the United Kingdom. Kraken, another major U.S.-based exchange, has also achieved significant regulatory milestones in these regions.

Kraken's expansion capability was facilitated by acquiring a Cypriot investment firm, which came with a Markets in Financial Instruments Directive (MiFID) license, sanctioned by the Cyprus Securities and Exchange Commission. Concurrently, Coinbase obtained a Virtual Asset Service Provider (VASP) registration from the UK's Financial Conduct Authority.

With its newly acquired MiFID license, Kraken is positioned to provide advanced crypto traders in certain EU markets with access to compliant derivatives products. This move comes as the EU prepares to fully implement its Markets in Crypto-Assets (MiCA) regulations in two phases, set to commence in late 2024. On the other hand, Coinbase's VASP registration will allow the firm to offer a suite of crypto and fiat services in the UK, which is also on the cusp of introducing a comprehensive crypto regulatory framework in early 2025.

Both companies view these developments as a significant step towards expanding their services across the EU and UK regions. The forthcoming regulatory changes in these regions are expected to provide a structured and regulated environment for cryptocurrency exchanges and their users.

Kraken's Co-GM of Pro and Exchange, Shannon Kurtas, emphasized the importance of the European market to the company's global expansion strategy. In a statement released by the company, Kurtas expressed confidence in the EU market and reiterated Kraken's commitment to delivering a secure and regulated trading environment for sophisticated crypto traders and investors.

These regulatory milestones for Kraken and Coinbase are indicative of their readiness to adapt and grow within the evolving global regulatory landscape for digital assets.

Coinbase Expands UK Operations with New Regulatory Approval

Coinbase has secured approval to offer digital asset services in the United Kingdom, marking a major expansion of its operations in Europe's financial hub. The company announced on February 4, 2025, that it had received a Virtual Asset Service Provider (VASP) license from British regulators.

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