Crypto firm Kraken registers with the Central Bank

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US-based bitcoin and cryptocurrency exchange Kraken has received a virtual asset service provider license from the Central Bank for its Irish subsidiary.

This decision means that Payward Europe Solutions Limited must comply with Irish and European anti-money laundering and anti-terrorist financing obligations.

“Kraken’s Irish VASP registration demonstrates to both our customers and regulators that Kraken adheres to the highest anti-money laundering and compliance standards in Europe,” the company said in a news article. blog.

“The registration further underscores Krakens’ commitment to driving crypto adoption across Europe, now and in the future.”

Kraken is one of the largest and oldest crypto exchanges and the latest to apply for a license from the Central Bank of Ireland as a regulator.

The recent failure of US-based FTX and other crypto exchanges has sharply drawn attention to the regulation of these entities and led to calls for stricter oversight.

“Clear and effective regulation is essential for the widespread adoption of cryptocurrencies,” said Mark Jennings, head of European operations at Krakens.

“As we bring innovative products and services to market, we are committed to continuing to work with European regulators to operate in compliance with sensible and forward-looking regulation of crypto assets.”

Kraken also has a digital asset license in Italy.

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