Kraken To Re-Enter The European Market By Applying For A New License

Kraken, following Brexit, seeks another license to re-surface in the European market with top choices, including Luxembourg, Malta, and Ireland. Kraken is the second top crypto exchange in the United States by its trading volume. It is presently seeking a new license to re-enter the European market towards the end of 2021. Kraken has entered into a dialogue with regulators in various European countries to this effect. Related Reading | Blockchain Startup In Pakistan Dubbed Bazaar Secures $30 Million In Funds The exchange, according to Kraken’s spokesperson, initially operates in Europe. But its European clients can currently access it only through an entity registered with UK’s FCA (Financial Conduct Authority). Kraken Claims Its Compliance To Rules Kraken claims to have been complying with the applicable requirements of 5AMLD – EU’s Fifth Anti-Money Laundering Directive. The exit of Great Britain from the E.U. signifies that Kraken needs to source for re-entering the continent. Thus exchange’s spokesperson said earlier that; “Kraken is an exchange that is regulatory compliant and exists in almost 190 jurisdictions across the globe. Though, it maintains constructive and proactive dialogues with crypto regulators in the fast-growing European regulatory landscape.’ He added that the firm plans always to be and remain regulatory compliant.” The Kraken founder and CEO Jesse Powell sta...