The European arm of cryptocurrency alternate KuCoin has received licensing to provides its companies in Austria.
KuCoin EU obtained a Markets in Crypto Belongings (MiCA) regulation license in Austria, permitting it to supply regulated companies throughout the European Financial Space (EEA), the agency introduced by way of e mail on Friday.
MiCA got here into impact late final yr, permitting crypto firms to acquire a license in a person markets after which passport its companies throughout the remainder of the EEA.
This method helps expedite the method for crypto firms to acquire a licensed footprint throughout 27 international locations, however issues have surfaced that some member states will not be making use of due care and a focus in handing out licenses.
KuCoin, which claims to have over 200 million customers throughout 200 countires, reveals its MiCA licensing solely days after the alternate registered with Australia’s monetary intelligence company Austrac, permitting it to supply crypto alternate companies legally within the nation.
