Kraken, obtained a VASP license from the Central Bank of Ireland for its European subsidiary.
VASPlicense allows Kraken to fight money laundering and terrorist financing, among other measures. Central Bank of Irelandacknowledges that it meets the requirements set by
Jennings: Regulation Required for Adoption
Krakensaid the VASP license underlines its commitment to increase crypto adoption in Europe now and in the future.
Making a statement on the subject, Kraken Head of European Operations Mark Jennings “Clear and effective regulation is essential for the mainstream adoption of cryptocurrencies. We are committed to continuing to work with European regulators to operate harmoniously under sensible, forward-looking cryptoasset regulation while bringing innovative products and services to market.”
Another person commenting on the subject is Kraken Curtis Ting, senior general manager of global operations. Ting said the VASP license is relatively less stringent to the BitLicense that New York offers for digital asset companies.
This is not Kraken’s first regulatory approval in an EU member state. The company was previously ItalyIt had a digital asset license in .
