Global exchanges are facing mounting pressure to conform to the MiCA regulations or forfeit access to 500 million users as the EU tightens its crypto rulebook. KuCoin’s decision to establish a presence in Vienna illustrates a strategy to utilize Austria’s regulatory transparency as a springboard for turning compliance expenses into a competitive edge for dominance in the pan-European market.
KuCoin’s European subsidiary, KuCoin EU Exchange GmbH, has initiated the process to secure a Markets in Crypto-Assets (MiCA) license in Austria. This step is part of the company’s commitment to comply with EU regulations as it aims to provide cryptocurrency services throughout the European Economic Area (EEA).
Leveraging KuCoin’s technology and well-established global brand, the company intends to introduce innovative crypto products customized for the region. If granted, the license would enable KuCoin to operate as a regulated crypto-asset service provider within the European Union (EU) and the EEA.
“KuCoin EU Pursues MiCA License, Establishes New Headquarters in Vienna
In its announcement, KuCoin EU stated that obtaining the MiCA license would enable it to function as a regulated crypto-asset service provider while ensuring compliance with European financial regulations. The company has selected Vienna as its regional headquarters, highlighting Austria’s well-structured regulatory environment and access to a pool of skilled professionals in the crypto and fintech industries.”
