KuCoin aims for European growth with MiCAR license in Austria
KuCoin aims for European growth with MiCAR license
KuCoin, one of the world’s largest cryptocurrency exchanges, has announced its application for a Markets in Crypto-Assets Regulation (MiCAR) license in Austria, marking a significant step toward expanding its footprint in the European Union’s regulated crypto market.
The company plans to secure approval through its local subsidiary, KuCoin EU Exchange GmbH, based in Vienna, according to Crypto News.
The move is part of a broader strategy to establish a European headquarters in Austria, allowing KuCoin to operate within the EU’s standardized regulatory framework.
A key step toward EU expansion
The MiCAR framework, which came into full effect in December 2023, provides a uniform regulatory environment for digital asset operators and stablecoin issuers across the European Economic Area (EEA). By obtaining a MiCAR license, KuCoin would be able to offer its services seamlessly across EU member states without requiring individual national approvals.
Oliver Stauber, CEO of KuCoin EU, expressed enthusiasm about the expansion, calling it an “exciting new chapter” for the exchange. Chief Operating Officer Christian Niedermueller echoed the sentiment, highlighting his extensive experience in the digital asset industry and his commitment to growing KuCoin’s presence in the European market.
If successful, KuCoin will join other major exchanges such as Crypto.com, OKX, and eToro in securing MiCAR compliance. The move comes as the EU tightens oversight of the crypto industry, aiming to create a safer and more transparent trading environment for digital assets.By positioning itself within Austria’s regulatory framework, KuCoin is making a strategic bet on Europe’s growing crypto sector, ensuring compliance while broadening its market reach.
Daily Bitcoin payments hit their lowest point of 2024 on December 26, with only 623,434 transactions recorded, according to Blockchain.com. This marks a sharp 37% drop from the December 17 peak of 857,000 payments when Bitcoin reached its all-time high of $108,000.
