Kraken, one of the world’s oldest crypto exchanges, is expanding its presence in Europe by acquiring Coin Meester B.V. (BCM), a Dutch crypto broker. The purchase will give Kraken a “sizable position in the Dutch market” and benefit the broker’s clients. BCM supports over 170 digital assets and is one of the oldest brokers in the country. Kraken CEO David Ripley said that the Netherlands has a “well-established culture of innovation and a high level of crypto adoption”, making it a key market for Kraken’s European expansion plans. The acquisition of BCM will allow BCM’s clients to benefit from an even more robust product offering. The European Commission has introduced the Markets in Crypto-Assets (MiCA) regulatory framework to bring comprehensive crypto regulation to the European Union (EU). MiCA seeks to protect consumers and investors by mitigating risks associated with crypto, while promoting financial stability and market integrity. The rules aim to standardize the regulatory environment for various crypto assets, including fungible assets like Ethereum (ETH) or Bitcoin (BTC) and non-fungible tokens (NFTs). MiCA took effect on June 1, 2023 and its full implementation will be in 2024. As a result of these developments, crypto firms and exchanges, such as Binance France, are closely watching MiCA’s implementation. In late August, Binance France said the Autorité des Marchés Financiers (AMF) license presented “an opportunity to adapt to regulatory challenges and capitalize on opportunities within the European market.” Kraken has already obtained an Electronic Money Institution license from the Central Bank of Ireland and a virtual asset service provider (VASP) registration from the Bank of Spain. With the Irish license, Kraken can offer euro-to-crypto trading services in the EU. Kraken, one of the world’s oldest crypto exchanges, is strengthening its presence in Europe by acquiring Coin Meester B.V. (BCM), a Dutch crypto broker. The purchase will give Kraken a “sizable position in the Dutch market” and benefit the broker’s clients. BCM supports over 170 digital assets and is one of the oldest brokers in the country. Kraken CEO David Ripley said that the Netherlands has a “well-established culture of innovation and a high level of crypto adoption”, making it a key market for Kraken’s European expansion plans. The European Commission has introduced the Markets in Crypto-Assets (MiCA) regulatory framework to bring comprehensive crypto regulation to the European Union (EU). MiCA seeks to protect consumers and investors by mitigating risks associated with crypto, while promoting financial stability and market integrity. The rules aim to standardize the regulatory environment for various crypto assets, including fungible assets like Ethereum (ETH) or Bitcoin (BTC) and non-fungible tokens (NFTs). MiCA took effect on June 1, 2023 and its full implementation will be in 2024. As a result of these developments, crypto firms and exchanges, such as Binance France, are closely watching MiCA’s implementation. Kraken has already obtained an Electronic Money Institution license from the Central Bank of Ireland and a virtual asset service provider (VASP) registration from the Bank of Spain. With the Irish license, Kraken can offer euro-to-crypto trading services in the EU.

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Information	Details
Geography	Europe
Countries	🇳🇱 🇮🇪 🇪🇸
Sentiment	positive
Relevance Score	8
People	Autorité des Marchés Financiers, David Ripley, Bank of Spain, Central Bank of Ireland
Companies	European Commission, Central Bank of Ireland, Coin Meester B.V., Kraken, Markets in Crypto-Assets (MiCA), Autorité des Marchés Financiers (AMF), Bank of Spain.
Currencies	Ethereum, Bitcoin, NFT Stars
Securities	None