Kraken Obtains EU MiFID License for Crypto Derivatives Trading

Kraken has secured the EU Financial Instruments Market Directive (MiFID) license, enhancing its presence in the European crypto market. This approval follows the acquisition of a Cyprus investment company authorized by the Cyprus Securities and Exchange Commission (CySEC). Key points include:

Ability to provide regulated crypto derivatives for advanced traders in select EU markets.
Previously obtained E-Money Institution (EMI) license from the Central Bank of Ireland in September 2023.
Registration as a Virtual Asset Service Provider (VASP) with the Bank of Spain.
Acquisition of Dutch crypto broker BCM and VASP registration from the Dutch Central Bank in February 2024.

Kraken's long-term strategy focuses on regulatory compliance, aiming to offer a trusted environment for investors. The new license aligns with EU standards and expands access to derivative products. In comparison, Bitpanda recently achieved Markets in Crypto-Assets Regulation (MiCAR) approval from Germany’s BaFin, enabling services across 27 EU countries.