The European arm of cryptocurrency exchange KuCoin has been awarded a license to offer its services in Austria.
KuCoin EU has received a Market for Crypto Assets (MiCA) regulatory license in Austria, allowing it to offer regulated services across the European Economic Area (EEA), the company announced in an email on Friday.
MiCA came into effect late last year and allows crypto companies to obtain licenses in individual markets and passport their services across the rest of the EEA.
The system will help speed up the process for crypto companies to obtain licenses in 27 countries, but concerns have surfaced that some member states are not paying enough care and attention to the granting of licenses.
KuCoin, which claims to have more than 200 million users in 200 countries, unveiled its MiCA license just days after the exchange registered with Australia’s financial intelligence agency Austrac, allowing it to legally offer cryptocurrency exchange services in the country.
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
