The European arm of cryptocurrency trade KuCoin has been awarded a license to supply its companies in Austria.
KuCoin EU has acquired a Marketplace for Crypto Property (MiCA) regulatory license in Austria, permitting it to supply regulated companies throughout the European Financial Space (EEA), the corporate introduced in an electronic mail on Friday.
MiCA got here into impact late final yr and permits crypto firms to acquire licenses in particular person markets and passport their companies throughout the remainder of the EEA.
The system will assist pace up the method for crypto firms to acquire licenses in 27 nations, however considerations have surfaced that some member states usually are not paying sufficient care and a spotlight to the granting of licenses.
KuCoin, which claims to have greater than 200 million customers in 200 nations, unveiled its MiCA license simply days after the trade registered with Australia’s monetary intelligence company Austrac, permitting it to legally supply cryptocurrency trade companies within the nation.
