Cyprus Regulator Grants Key License

The cryptocurrency exchange KuCoin has taken a significant step in solidifying its European presence. Its regional entity, KuCoin EU, has successfully obtained approval under the Markets in Crypto-Assets Regulation (MiCAR) from the Cyprus Securities and Exchange Commission (CySEC).

This regulatory green light is a crucial development for the exchange, effectively providing it with a passport to offer its services across all 27 member states of the European Union. The approval marks KuCoin as one of the first global exchanges to achieve full MiCAR compliance through a European regulator.

Expanded Services for the European Market

Under the new license, KuCoin EU is authorized to provide a comprehensive suite of digital asset services. These include spot trading, margin trading, and futures trading. The exchange will also be able to offer services related to payments and custody, positioning it to serve a broad range of retail and institutional clients in the region.

Johnny Lyu, the CEO of KuCoin, stated that this achievement highlights the company’s commitment to compliance and user protection. He emphasized that aligning with the robust MiCAR framework is central to the exchange’s strategy for sustainable growth within the highly regulated European market.

Navigating the New Regulatory Landscape

The MiCAR framework, which is set to become fully effective by the end of the year, aims to create a unified regulatory standard for crypto assets across the EU. By securing this approval ahead of the deadline, KuCoin positions itself for a smooth transition and demonstrates its readiness to operate within the new legal structure. This proactive approach is expected to enhance trust and security for its European user base.