Cryptocurrency Information Bureau News: Kraken obtains MiCA license! Legally starts offering Bitcoin and cryptocurrency services in Europe! Trade safely! #Kraken #MiCA #Cryptocurrency
Video explanation
Will cryptocurrencies become more accessible in Europe? Major exchange Kraken meets the EU's new "official rules"!
Hello! I'm John, a blog writer who explains blockchain technology and cryptocurrency news in an easy-to-understand way for everyone.
Many people may feel that "cryptocurrency seems difficult" or "I don't really understand overseas news." But don't worry! This time, we will bring you some very important and positive news that has happened in Europe for the future of cryptocurrency in an easy-to-understand way.
The world-famous cryptocurrency company Kraken has become the first to receive permission under the new European rules, MiCA! Let's take a look at what this means and what it means for us!
What kind of company is Kraken?
First of all, some of you may have never heard of the name "Kraken". The Kraken is one of the largest monsters in the world."Virtual currency exchange"It is one of the companies called
The word "exchange" may sound difficult, but its role is very simple. Imagine a bank or an airport exchange where you exchange Japanese yen for US dollars. Kraken is a place where you can exchange, buy and sell real money (called legal tender) such as Japanese yen or dollars for Bitcoin and other virtual currencies (also called crypto assets). It is a very large company that many people around the world use to trade virtual currencies safely.
What is the main character of this news, "MiCA"?
Next, I would like to explain the most important keyword in this news story: "MiCA."
MiCA is an abbreviation for "Markets in Crypto-Assets" in English, which means "Crypto Asset Market Regulation Act" in Japanese. It's a bit of a difficult name, but basically,New, official, pan-European rulebook for cryptocurrenciesIt's like
Until now, virtual currency rules have varied from country to country in Europe, causing confusion for both users and businesses. Therefore, the main goal of MiCA is to "make the rules the same across the 30 countries, mainly EU member states, known as the European Economic Area (EEA)!"
For example, the rulebook states the following:
- Protecting users' assets
- Prohibit any acts that deceive people with false information
- Establishing a system that allows the exchange to operate stably
In other words, MiCA aims to remove the image of the virtual currency world as a lawless place, and to make it a lawless place like the stock market or banks."Traffic rules" to create a reliable market in which everyone can participate with confidenceWhat is it?
What does it mean that Kraken has obtained a "MiCA license"?
Now, back to the main topic. What does it mean that Kraken has obtained this "MiCA license"?
This "license" meansOfficial business licenseKraken's receipt of this license means that the company has been officially recognized as meeting Europe's strict safety standards and user protection rules.
This allows Kraken to operate openly under the same rules in all 30 countries in the European Economic Area (EEA), which is great for users and great for the company.
- Increased user peace of mind:Users will be able to use the service with greater peace of mind, knowing that "this exchange is being run according to proper rules."
- Improved service convenience:As long as you live in Europe, you will be able to receive the same quality of service and follow the same rules, no matter which country you live in. You will no longer have to worry about different rules for each country.
- Increased reliability across the industry:When major companies like Kraken follow official rules, the image of cryptocurrencies as being suspicious will fade, leading to an improvement in the image of the entire industry.
Does this news apply to us in Japan?
You might be thinking, "That's a European thing, isn't it? Doesn't it have much to do with us in Japan?" But actually, that's not the case.
This news is because it shows a big trend in how countries around the world will handle virtual currencies. Until now, some have said that "virtual currencies should be banned," but it is interesting to see a large economic zone like Europe not banning them, but instead allowing them to operate."Let's create clear rules and raise them in a healthy way."This clearly shows their stance.
This is evidence that the world is beginning to recognize that virtual currencies are a future technology that cannot be ignored and are part of the economy. This European movement may have a positive impact on the future rule-making in Japan and the response of other countries.
John's comment
The world of virtual currencies, which used to be described as "suspicious" and "unclear," is gradually becoming a cleaner and more trustworthy market as countries and regions move forward with creating proper rules. I feel that this news is a huge step that symbolizes that change. I hope that this movement in Europe will be a catalyst for making virtual currencies more familiar and safer for people all over the world.
This article is based on the following original articles and is summarized from the author's perspective:
Kraken Secures MiCA License To Offer Bitcoin And Crypto In
Europe