KuCoin Applies for MiCAR License in Austria, Eyes Expansion into EU Market

This application demonstrates the companys dedication to attaining the highest possible levels of regulatory compliance.
KuCoin EU will be able to provide its services to consumers in all thirty countries that are members of the EU and the EEA thanks to the MiCAR license.
The headquarters of KuCoin EU will be located in Vienna, Austria, which will serve as a strategic center for all activities that take place in Europe.

A leading global cryptocurrency exchange, KuCoin, has made the announcement that KuCoin EU Exchange GmbH is now in the process of submitting an application for a MiCAR license in the country of Austria. As KuCoin prepares for its entrance into the European Union and the European Economic Area (EU/EEA), this application demonstrates the companys dedication to attaining the highest possible levels of regulatory compliance.

KuCoin EU will be able to provide its services to consumers in all thirty countries that are members of the European Union and the European Economic Area (EEA) thanks to the MiCAR license. This will ensure that customers have consistent access to cryptocurrency products and services inside a solid regulatory framework. The purpose of this initiative is to align with KuCoins objective of encouraging openness, trust, and accountability in the administration of best-in-class digital asset services, with the goal of providing users with a trading platform that is both safe and compliant.

The headquarters of KuCoin EU will be located in Vienna, Austria, which will serve as a strategic center for all activities that take place in Europe. KuCoin EU is now in the process of recruiting qualified individuals for its operations. The prompt adoption of the MiCAR related legislation, a stable and predictable regulatory framework, and the enormous talent pool were the primary factors that led to the choice to choose Austria as the location. KuCoin EU recognizes the efforts that Austria has made, such as those spearheaded by the City of Vienna, to provide a framework that is transparent, efficient, and the finest of its kind for cryptocurrency enterprises to operate within. This framework is designed to do so while protecting the interests of investors and encouraging innovation in the financial sector.

Commenting on the establishment of the EU hub, KuCoins CEO BC Wong said:

As a globally leading crypto exchange, we place compliance and user experience at the forefront of our mission. Today, I am proud to announce the establishment of our new EU hub in Vienna and that KuCoin EU intends to file for a MiCAR application in Austria. This marks a significant milestone in our steadfast commitment to executing a global, compliant strategy. Upon receiving a MiCAR license, we will enter the EEA market, which we deem strategically important. By advancing our compliance efforts, we are poised to better serve local users with more convenient, secure, and seamlessly localized products and experiences. We remain dedicated to fostering a transparent, responsible, and sustainable global digital asset ecosystem.

Oliver Stauber, a former General Counsel and Managing Director at Bitpanda, and Christian Niedermueller, a former CEO of another European digital asset exchange, have been appointed as the Managing Directors of KuCoin EU Exchange GmbH. Both of these individuals are veterans of the European cryptocurrency industry and experienced financial executives with a background in law. Stauber and Niedermueller bring broad expertise in financial market regulation and crypto exchange management to KuCoin, which strengthens the companys leading position as it navigates the complexities of Europes evolving crypto regulations while simultaneously ensuring a successful and regulatory-compliant business operation in the European Union and the European Economic Area.

Oliver Stauber, CEO of KuCoin EU stated:

I am absolutely thrilled to embark on this journey as the CEO of KuCoin EU, where we are set to revolutionize the crypto landscape across the EU and EEA with innovative products and services. At KuCoin EU, our mission is clear: to create Europes premier, regulatory-compliant crypto asset service provider. We are excited to announce that we will apply for a MiCAR license in Austria. Upon receiving the MiCAR license we are committed to delivering secure, compliant, and cutting-edge crypto solutions that will redefine trust and innovation in the EUs fintech arena. Get ready for a new era in crypto!

Christian Niedermueller, COO of KuCoin EU stated:

After having scaled up another European exchange and having my toes in the digital asset industry now for more than 9 years, I am very happy to help bringing KuCoin to the next level in Europe. We aim to build a fantastic local team, have a sophisticated localized operational & product setup and also strengthen brand awareness massively in the years to come. Being a KuCoin customer myself since the very beginning in 2017, I couldnt be prouder to support KuCoin now at this stage.

KuCoin EU will be in a strong position to provide services for customers in Europe once it has been given its MiCAR license. These services will include providing access to a diverse variety of digital assets while also assuring compliance with EU rules. Contributing to the widespread adoption of blockchain technology and bolstering the European Unions position as a leader in the global cryptocurrency ecosystem are two of the long-term goals that the company has set for itself.

Although KuCoin is taking this step forward, the exchange continues to maintain its primary focus on promoting innovation and trust in the digital asset space while simultaneously aligning its operations with regulatory frameworks all over the world.

A digital asset brokerage that is fully compliant with the MiCAR framework is something that KuCoin EU Exchange GmbH, which has its headquarters in Vienna, Austria, is dedicated to establishing. Through the utilization of KuCoins cutting-edge technology and the cultivation of the esteemed KuCoin brand, KuCoin EU intends to provide its customers within the European Economic Area (EEA) with crypto products and services that are both secure and innovative.

At this time, KuCoin EU Exchange GmbH does not provide any services within the European Union or the European Economic Area (EEA), and it will not begin operations until it has obtained the necessary licensing.

Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M

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