Kraken Leads MiCA-Regulated Exchanges in Spot and Perpetual Liquidity as EU Framework Takes Effect

According to DefiLlama data, Kraken leads MiCA-regulated crypto exchanges following the full enforcement of the EU's Markets in Crypto-Assets Regulation on July 1. The exchange holds $399.71 million in spot liquidity and $206.90 million in perpetual liquidity, ranking first in both categories among regulated venues. Kraken also leads in market coverage, giving it a broader institutional offering under the new European compliance framework. The exchange obtained its MiCA authorization from the Central Bank of Ireland in June 2025.
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