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

Author: Content Editor
Crypto exchange Kraken has completed its acquisition of Coin Meester B.V., a prominent crypto broker in the Netherlands. This acquisition strengthens Kraken's presence in the Dutch market and enhances its operations in Europe ahead of the forthcoming Markets in Crypto-Assets Regulation (MiCA). The integration of Coin Meester expands Kraken's ability to operate as a registered Virtual Asset Service Provider (VASP) in France and Poland, as well as offer VASP services in Germany, Spain, Italy, the Netherlands, Belgium, and Ireland. Kraken aims to increase its market share in the European market, which is expected to undergo further consolidation due to rising operational costs and increased competition. However, the company is also facing a lawsuit from the Securities and Exchange Commission (SEC). The SEC accuses Kraken of offering unregistered securities and demands that the company cease these alleged violations and return any "ill-gotten gains." Kraken has filed for a jury trial and argues that cryptocurrencies should not be classified as securities and therefore do not require registration. The company also claims that the SEC is violating its First Amendment rights by penalizing it without clear regulatory guidelines.

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