Kraken receives Cyprus license and expands its derivatives business in the EU

Odaily Planet Daily News Crypto exchange Kraken has obtained the EU Financial Instruments Market Directive (MiFID) license by acquiring a licensed institution in Cyprus, and has officially expanded its derivatives business throughout the EU. Alexia Theodorou, head of the exchange's derivatives business, previously revealed that derivatives trading has accounted for half of its total trading volume. The expansion enables Kraken to provide compliant derivatives services to users in the European Economic Area (including the 27 EU countries and Iceland, Liechtenstein, and Norway). In May of this year, Kraken launched similar products to qualified investors under the supervision of the UK Financial Conduct Authority (FCA). (The Block)