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US-based cryptocurrency exchange Kraken has rolled up its sleeves to expand its operations in Europe. Kraken announced in an official statement today that it has reached an agreement to acquire Coin Meester B.V., a Dutch-based crypto trading platform. No financial details about the deal have been disclosed. Kraken emphasized in its announcement that it will continue to expand its activities in European countries.
Kraken Expands Its Activities in Europe
The steps taken by the US Securities and Exchange Commission (SEC) in recent years have received intense criticism from many names in the crypto industry. Ripple, Binance, Coinbase, and many other crypto companies have come under the regulators’ radar during this process.
The tension between US regulators and crypto companies has significantly increased with the lawsuits filed by the SEC against Binance and Coinbase in June. Many crypto companies that have come under the radar of US regulators have started working to expand their operations outside the US, especially in European countries.
Many digital asset companies such as Ripple and Galaxy Digital have started taking concrete steps in this regard in recent months. Kraken, a US-based cryptocurrency exchange, also announced an important step in this direction with an official announcement made today. Kraken, aiming to expand its activities in Europe, announced that an agreement has been reached to acquire a local crypto trading platform in the Netherlands.
Official Announcement from Kraken Exchange
Kraken exchange announced through an official announcement on its website today that an agreement has been reached to acquire Coin Meester B.V., a Dutch-based crypto trading platform. Kraken stated that the agreement to acquire BCM, which is registered as a cryptocurrency service provider with the Dutch Central Bank (De Nederlandsche Bank), is subject to regulatory approval, including the approval of the Dutch Central Bank.
David Ripley, the CEO of Kraken exchange, also made statements regarding the matter. Kraken’s CEO pointed out the increasing adoption of digital assets in the Netherlands and emphasized the culture of innovation in the country. The announcement stated that Kraken exchange will continue to expand its activities in European countries.
Coin Meester B.V. (BCM), which was founded in 2017 and recently rebranded as Bitcoin Meester, offers various services such as trading and staking of crypto assets. The announcement made by Kraken exchange does not provide any financial details about the agreement.
