Crossing Borders: US Crypto Exchange Gains VASP Status in Europe’s Top Five Economy
A leading US-based crypto exchange platform, Kraken, is making its mark in Europe’s fifth-largest economy following its recent acquisition of proper registration.
Kraken announced its attainment of VASP (Virtual Asset Service Provider) registration from the Dutch Central Bank (DCB), paving the way for its expansion into the Netherlands. This regulatory approval provides clear guidelines for Kraken to operate digital asset services within the European Union (EU). Brian Gahan, Kraken’s European branch managing director, emphasized the significance of this milestone, stating, “With the addition of the Dutch VASP registration, our European growth strategy continues to accelerate.
Kraken views the Netherlands as a key market due to its high rates of fintech and crypto adoption, with approximately 20% of Dutch citizens owning cryptocurrencies. This move aligns with Kraken’s goal to offer its competitive crypto services to both retail and professional traders across Europe.
Clever Robot News Desk 9th February 2024