Latvian approval enables Kanga to offer regulated crypto services across the EU.
Latvia authorises Kanga to expand regulated crypto services across the EU
Photo Credit: Unsplash/Kanchanara
Kanga, a cryptocurrency exchange platform based in Poland, announced that it has received a licence from Latvia for the Markets in Crypto-Assets Regulation (MiCA). Under this licence, Kanga will be able to offer its services across the European Union (EU). SIA AlphaRoute, which trades as Kanga Exchange EU, has been issued a MiCA Class 3 license by the Bank of Latvia following the authorisation decision made by its Supervisory Committee. The licence was issued on June 18 and allows the business to provide various services such as crypto custody, trading, and transfer within the EU.
This approval arrives after Poland failed to implement the MiCA law amidst the July 1 deadline set by the EU because of three presidential vetoes. The company has announced that it will give more information regarding the new service to customers via its official communication channels.
According to SIA AlphaRoute CEO Dominik Tomczyk, Kanga began the pre-licensing process in Latvia in November 2025 after reviewing several jurisdictions. He said, “From the very beginning, we knew that we had to use the transitional period provided for under the MiCA regulation to prepare the organisation to operate within the new regulatory framework.”
Earlier today, Binance crypto exchange withdrew its application for MiCA licensing with the Hellenic Capital Market Commission (HCMC), Greece, and plans on applying for licensing in some other member state only a few days ahead of the EU deadline. According to Gillian Lynch, Binance's head of Europe and the UK, had contacted other regulators but filed an application only in Greece.
In June, several other crypto exchanges had also achieved MiCA licence, just days before the deadline, one of them is WhiteBIT, which had secured MiCA from the Austrian Financial Market Authority (FMA). According to WhiteBIT, the licence will facilitate the roll-out of a specific platform in Europe, which is whitebit.eu.
OpenPayd also recently obtained authorisation, and the firm is able to provide crypto services within the European Economic Area (EEA) through passporting. This licence has been issued by the Malta Financial Services Authority (MFSA). Moreover, the same regulator had also granted MiCA licences to crypto companies, including OKX and Gemini.
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