The US-based cryptocurrency exchange received its VASP authorization from the Central Bank of Ireland.
Central Bank of Ireland granted the VASP authorization to Payward Europe Solutions, an Irish affiliate of Kraken with its headquarters in Dublin.
The VASP approval arrives just as Kraken needs it. The long-awaited Markets in Crypto Assets (MiCA) regulation will soon go to the EU for a final vote.
The MiCA Act is anticipated to go through in view of the preliminary votes that revealed overwhelmingly bipartisan support.
If so, the ensuing modifications will call for any business acting as a CASP—a provider of crypto assets—in the EU to register with one of the union’s 27 authorized authorities.