Cryptocurrency exchange Kraken has announced the successful acquisition of Dutch VASP (Virtual Asset Service Provider) registration.

Kraken’s Managing Director of Europe, Brian Gahan, was excited about the news. 

Another milestone in our European growth strategy – Kraken received a registration from the Dutch Central Bank

We look forward to welcoming all the new Dutch clients that are looking for an easier, better & more secure crypto experience.

Read more https://t.co/9rG46vUyit

— Kraken Exchange (@krakenfx) February 8, 2024

Kraken’s Dutch Expansion: Legal Challenges Amidst Promising Market Growth

According to data, about 20% of Dutch people own Bitcoin, making the country a good market for Kraken. This move fits perfectly with Kraken’s main goal of taking advantage of Europe’s high rate of fintech acceptance.

Although Kraken is growing, it is engaged in a legal battle with the U.S. Securities and Exchange Commission (SEC). According to the regulatory body, Kraken operated its business without being properly registered, which led to a lawsuit. Kraken is still confident that the SEC lawsuit will not hurt its daily company operations, even though legal problems are on the horizon.

Getting a Dutch VASP license shows Kraken is serious about navigating regulatory landscapes and making a strong foothold in European markets. With this smart move, Kraken will be able to meet the growing need for cryptocurrency services among Dutch buyers, both amateurs and professionals. Moreover, the firm continues to grow in Europe. 

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