Polish crypto exchange Kanga has obtained a MiCA license in Latvia: a new stage of regulation in the EU
The Polish crypto exchange Kanga has successfully completed the licensing procedure under the MiCA (Markets in Crypto-Assets) regulation, receiving approval from the Bank of Latvia. The license was issued on June 18 and assigned to the operator SIA AlphaRoute, which operates under the Kanga Exchange EU brand.
This step marks an important precedent for the entire Eastern European crypto market. Kanga has become one of the first exchanges from the region to obtain a full MiCA license, granting it access to the single European market. The authorization covers a wide range of services: from custody of client crypto assets to managing a trading platform, exchanging digital assets, and conducting transfers.
What the MiCA license means for Kanga
The MiCA license allows the company to legally operate in all 27 European Union countries without needing separate approvals in each jurisdiction. For Kanga, this is not just a formality but a strategic breakthrough. The exchange can now offer its services to institutional investors and retail clients who previously were wary of working with unlicensed platforms.
The Bank of Latvia, which acted as the regulator in this process, confirmed that the company meets the strict MiCA requirements for consumer protection, cybersecurity, and financial stability. Special attention has been paid to asset custody procedures — Kanga's clients can now be confident that their funds are protected at a level comparable to traditional financial institutions.
My comment: The Polish exchange obtaining a MiCA license through the Latvian regulator is a clear signal to the market. Europe is gradually turning into a unified crypto space, where companies from Eastern Europe can compete with giants from the West. However, it is important to understand that MiCA is not a panacea: compliance with AML and KYC norms will require significant operational costs from Kanga, which may affect user fees. Nevertheless, this is a step in the right direction for legitimizing the industry.