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Kraken obtains VASP license, enters Irish market

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Gherardo Fiorenzo
Gherardo Fiorenzo is an Italian author with a unique perspective shaped by his experiences in Italy and the US. His thought-provoking articles, short stories, and reviews explore the intersections of language, identity, and culture.

Cryptocurrency exchange Kraken has expanded its operations to Europe via Ireland after successfully Obtaining a Virtual Asset Service Provider (VASP) License in the region. Kraken will work in jurisdiction through new A subsidiary company, Payward Europe Solutions Limited.

Jesse Powel’s Kraken cryptocurrency exchange announced which has successfully Obtained a Virtual Asset Service Provider (VASP) license with central bank of Ireland (CBI).

With the license, Kraken can launch its crypto operations across Europe via Its Irish subsidiary, Payward Europe Solutions Limited.

A legendary sea monster says that it latest milestone of Getting the approval of European authorities strongly indicate their commitment to combating-money laundering and compliance standards and its commitment to promoting them digital assets Adoptions across Europe.

Clear and effective organization is essential for current adoption of encryption. We bring innovative products and services to you marketWe are committed to work with European regulators act in compliance under reasonable conditions, forwardLooking for cryptocurrency asset said Mark Jennings, president of European operations in the Kraken.

Clear and effective regulation is essential for current adoption of encryption. We bring innovative products and services to you marketWe are committed to continuing work with European regulators act in compliance under reasonable conditions, forward- Looking for crypto-asset regulation.

Mark Jennings, President of European operations in the Kraken.

Europe is laying the groundwork for Adopt mainstream encryption

While the US cryptocurrency space It is being stifled by strict laws and constant enforcement action by regulators like Gary Gensler’s Securities and Exchange Commission (SEC), with several market participants Expect a mass exodus of web3 for companies from the country, the story Not quite the same for Europe.

markets in Crypto Asset Regulation (MiCA), approved by the Council of the European Union and ECON last yearis scheduled to take effect in the spring of 2024, and aims to deliver clearCut, unified, and enableable assets rules across 27 member states of the European Union.

MiCA is designed To promote innovation and fairness in cryptography competition within market participants While protecting consumers and investors market integrity. with MiCA in pipeline, more And more Web companies are expected to 3 move to Europe in the coming months.

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