Kraken has obtained a VASP license from the Central Bank of Ireland for its European subsidiary.
The VASP license acknowledges that Kraken meets the requirements set by the Bank of Ireland to combat money laundering and terrorist financing, among other measures.
Jennings: Regulation Required for Adoption
Kraken said the VASP license underlines its commitment to increase crypto adoption in Europe now and in the future.
Making a statement on the subject, Mark Jennings, Head of European Operations at Kraken, shared the following statements: “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 name to comment on the subject was Curtis Ting, Kraken’s 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 had previously licensed digital assets in Italy.
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