Kraken Receives License to Operate in the Netherlands
Cryptocurrency exchange Kraken has obtained a virtual asset service provider (VASP) registration from the Dutch Central Bank, allowing it to operate in the Netherlands. This move is part of Kraken’s plan to expand its presence in Europe, following its acquisition of Dutch crypto broker BCM last year. The company aims to tap into the Dutch market and introduce its offerings to retail clients and professional traders in the country and across Europe.
Opportunity in the Dutch Market
The Netherlands presents an attractive market for Kraken, as approximately 20% of its citizens own cryptocurrency. By entering the Dutch market, Kraken aligns with its goal of capitalizing on Europe’s high fintech adoption rates.
Lawsuit Impact
Despite facing a lawsuit from the U.S. Securities and Exchange Commission (SEC) over allegations of operating without proper registration, Kraken asserts that the legal action has not affected its business operations.
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