Key facts
- Kanga, a crypto exchange founded in Poland, has secured a MiCA license in Latvia.
- The license allows Kanga to passport its services across the European Union.
- SIA AlphaRoute, Kanga's operator, received the Class 3 MiCA license from the Bank of Latvia.
- The approval authorizes services including crypto custody, trading, and transfers.
- Poland is still without MiCA implementation legislation ahead of the EU's July 1 deadline.
Poland-founded crypto exchange Kanga announced it has obtained a Markets in Crypto-Assets Regulation (MiCA) license in Latvia, enabling it to offer its services across the European Union. The exchange's operator, SIA AlphaRoute, received the Class 3 MiCA license from the Bank of Latvia on June 18, authorizing services including crypto custody, trading, and transfers throughout the EU.
This development occurs as Poland faces challenges in implementing its own MiCA legislation before the EU's July 1 transitional deadline. Polish lawmakers are reportedly working to overcome a deadlock that has resulted in three presidential vetoes of previous crypto bills. A new proposal aims to reduce fees and regulatory burdens for crypto companies.
Kanga began its pre-licensing process in Latvia in November 2025, seeking to operate within the new regulatory framework. Meanwhile, Poland's crypto sector is under scrutiny following a fraud investigation into Zonda, the country's largest exchange, with estimated customer losses exceeding 350 million zlotys (approximately $92.7 million).