US based Bitcoin and cryptocurrency exchange, Kraken, has received a Virtual Asset Service Provider licence from the Central Bank for its Irish subsidiary.
The move means Payward Europe Solutions Limited must comply with Irish and EU anti-money laundering and countering the financing of terrorism obligations.
"Kraken's Irish VASP registration demonstrates to both our clients and regulators that Kraken follows Europe’s most robust anti-money laundering and compliance standards," the company said in a blog post.
"Registration further underscores Kraken’s commitment to driving crypto adoption across Europe, now and into the future."
Kraken is one of the largest and oldest crypto exchanges and the latest to seek a licence from the Central Bank of Ireland as regulator.
The recent failure of US based FTX and other crypto exchanges has focused attention firmly on the regulation of such entities and led to calls for more stringent oversight.
"Clear and effective regulation is essential for the mainstream adoption of cryptocurrencies," said Mark Jennings, Kraken’s Head of European Operations.
"As we bring innovative products and services to market, we’re committed to continuing to work with European regulators to operate compliantly under sensible, forward-looking crypto asset regulation."
Kraken also has a digital assets licence in Italy.
