Kraken completes acquisition of Coin Meester B.V. (BCM)

Source Cryptopolitan

Kraken has officially completed its acquisition of Coin Meester B.V. (BCM), one of the Netherlands’ most established crypto brokers.

With this, Kraken tightens its grip further on the Dutch market and boosts its operations in Europe, what with the upcoming Markets in Crypto-Assets Regulation (MiCA).

BCM’s integration will expand Kraken’s ability to operate as a registered Virtual Asset Service Provider (VASP) in France and Poland. 

The company can now offer VASP services across Germany, Spain, Italy, the Netherlands, Belgium, and Ireland too.

The European market is notorious for being highly fragmented. Rising operational costs and increased competition are expected to trigger further consolidation in the coming years. 

Kraken is banking on that to increase its market share. Brian Gahan, the company’s Managing Director for Europe, said:

“We are one of the very few in Europe that can combine global scale with a compliant offering and a superior client experience. Our clients stand to benefit as we empower them with the premium trading and investing experiences needed to unlock crypto’s full potential.”

Kraken’s battle with U.S. regulators

The company is also entangled in a high-profile lawsuit with the Securities and Exchange Commission (SEC). This lawsuit has been hanging over Kraken since November 2023, when the SEC accused the exchange of failing to comply with U.S. securities laws. 

The SEC claims that the firm has been offering unregistered securities in the form of 11 different cryptos, including Cardano (ADA), Algorand (ALGO), and Solana (SOL).

The SEC is going hard, demanding that the company stop these alleged violations and return what it calls “ill-gotten gains.”

The agency is also seeking additional penalties, which could be a huge financial setback for the firm if it loses the case.

On September 13, Kraken filed for a jury trial, insisting that it had done nothing illegal. The company hit back with 18 separate defenses against the SEC’s accusations. 

One of their main points is that cryptocurrencies don’t fall under the traditional definition of securities, which would mean they don’t have to be registered. 

Kraken is leaning heavily on this argument, pointing out that digital assets lack the basic features of stocks, bonds, or other investment contracts.

Kraken’s legal team also claims that the SEC is violating their First Amendment rights. They argue that the SEC is punishing the firm for offering crypto services without giving clear regulatory guidelines. 

Kraken says it was never given proper notice about what was expected of them under the law, which they claim is a violation of due process.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold Price Forecast: XAU/USD drifts lower below $2,800   after Trump imposes tariffsGold price (XAU/USD) edges lower to around $2,795 during the early Asian session on Monday.
Author  FXStreet
Feb 03, Mon
Gold price (XAU/USD) edges lower to around $2,795 during the early Asian session on Monday.
placeholder
U.S. March Nonfarm Payroll Preview: Even If Data Aligns with Expectations, Financial Markets May Not Escape the Fate of VolatilityOn 4 April 2025, the United States will release its March Nonfarm Payrolls (NFP) data. The market consensus currently anticipates job growth of 128,000, a decline from February’s 151,000 (Figure 1). W
Author  TradingKey
Apr 02, Wed
On 4 April 2025, the United States will release its March Nonfarm Payrolls (NFP) data. The market consensus currently anticipates job growth of 128,000, a decline from February’s 151,000 (Figure 1). W
placeholder
What Crypto Whales are Buying For May 2025Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
Author  Beincrypto
Apr 21, Mon
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
placeholder
Gold Price Forecast: XAU/USD attracts some sellers below $3,250 on firmer US DollarThe Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand. 
Author  FXStreet
Yesterday 02: 14
The Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand. 
placeholder
Ripple Price Forecast: XRP builds bullish momentum as Ripple eyes Circle with $5B acquisition bidRipple’s (XRP) price is consolidating at $2.21 at the time of writing on Thursday, reflecting sideways trading in the wider cryptocurrency market. There is a growing need for XRP to hold above the immediate $2.20 confluence support to validate the potential breakout targeting $3.00.
Author  FXStreet
18 hours ago
Ripple’s (XRP) price is consolidating at $2.21 at the time of writing on Thursday, reflecting sideways trading in the wider cryptocurrency market. There is a growing need for XRP to hold above the immediate $2.20 confluence support to validate the potential breakout targeting $3.00.
goTop
quote