Licensed Crypto Exchanges in Europe

Services and features that are included but not limited to, on Blockchain.com, include the crypto exchange, wallet service, earning products, and even a blockchain explorer. It supports upwards of more than 40 cryptocurrencies on its platform, thereby granting ease for its users to trade, store, and manage their digital assets with much ease.

How It Evolved: Blockchain.com

Blockchain.com is among the earliest major players in the cryptocurrency space, founded in 2011. What started as a wallet service expanded into trading and other financial services, with its commitment to security and user privacy tucking millions of users worldwide into its pocket.

Kraken: A Reputed Exchange with High European Presence

Licenciamento Europeu e Conformidade da Kraken

Kraken operates in the European Economic Area through entities authorised under Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA). On 25 June 2025, Payward Europe Solutions Limited and Payward Global Solutions Limited received authorisation from the Central Bank of Ireland to provide specified crypto-asset services. These authorisations allow Kraken to provide covered services across the European Economic Area through the applicable passporting framework. The scope of authorisation includes crypto-asset exchange, custody, order execution and operation of a trading platform, depending on the relevant authorised entity. Regulatory authorisation provides a framework for supervision and customer protection but does not eliminate cybersecurity, market or operational risks.

License in Europe

UK


Lithuania

Services Offered by Kraken

Kraken offers cryptocurrency spot trading, custody and other digital asset services, including margin trading, derivatives, staking and institutional products where legally permitted. However, these services are not available uniformly across all jurisdictions. Within the European Economic Area, Kraken’s MiCA-authorised entities provide specified crypto-asset services under the supervision of the Central Bank of Ireland. Derivatives and other financial instruments may be subject to separate financial services legislation, including MiFID II, and cannot be provided solely on the basis of a MiCA authorisation. Customers should verify the regulatory status, product availability and applicable risk disclosures before using the platform.

Overview of Kraken’s History

Kraken is among the oldest cryptocurrency exchanges, founded in 2011 by Jesse Powell. The platform has favored a policy of transparency and the security of its users, which has made it very popular among traders. It was one of the very first exchanges to implement regular audits in the form of proof-of-reserves for user-fund safety. In this respect, Kraken has managed to assure its position among the leading global exchanges with its European expansion and focus on regulatory compliance.

License in Europe

UK


Ireland

Company activity description

Gemini is a cryptocurrency exchange established by Cameron and Tyler Winklevoss, with trading operations launched in October 2015. The company provides digital asset trading and custody services through entities subject to applicable regulatory requirements. On 5 February 2026, Gemini announced a strategic restructuring involving its withdrawal from the United Kingdom, European Union, other European markets and Australia. The company decided to concentrate its operations primarily on the United States and Singapore. Effective 6 April 2026, Gemini closed customer accounts in the United Kingdom and European Economic Area. Consequently, Gemini should no longer be presented as an actively operating cryptocurrency exchange available to European customers.

Company History

Gemini is a digital currency exchange that allows customers to buy and sell digital assets and store them. It is a New York State Financial Services NYDFS trust company that was founded in the year 2014 by Cameron and Tyler Winkler.

Gemini expanded its cryptocurrency trading services after launching in October 2015, including support for Ethereum and other digital assets. Its regulatory status and geographical availability have changed substantially since its initial international expansion. In February 2026, Gemini announced the closure of its operations in the United Kingdom, European Union and several other international markets. Customer accounts in the United Kingdom and European Economic Area were scheduled for closure effective 6 April 2026. Historical registrations and regulatory permissions should not be interpreted as confirmation that Gemini continues to provide cryptocurrency trading services in those jurisdictions. Customers should verify the current status of the relevant operating entity and available services before opening an account.

The twins allowed the purchasing and storage of the bitcoins through an advanced private key system and password protected systems. Only a small percent of the total amount of bitcoins on stock exchange are kept online, such that in case there is a hacking the loss can be minimal.

Tyler and Cameron Winklevoss announced Gemini in June 2013, and the firm was launched on October 25th, 2015. Twins then proceeded to add to financial services they provided, some of which include FIX and API support. On May 5, 2016, New York State Governor Andrew Cuomo announced that Gemini was approved as the first licensed Ethereum exchange based in the United States. In the year 2016, the twins announced that they were going to allow users to withdraw Ethereum Classic ETC. The effect had been done on the hard fork of Ethereum after some changes in code.

Later, in October 2017, Gemini said that it was going to allow its registered customers to withdraw Bitcoin Cash from the stock exchange. However, it was on condition that one must have had an account balance on the stock exchange before August 2017 Bitcoin hard fork.

The Winklevoss Twins went on record to say the first order of business in 2018 would be to add in Bitcoin Cash and Litecoin.

In March of 2018, the Twins added a number of partnerships and products to their portfolio and network. He announced a partnership with Caspian – a fully functional cryptocurrency trading and risk management platform for institutional and sophisticated investors.

Reuters, in April 2018, said the Gemini was set to deploy NASDAQ SMARTS technology in mapping the transactions with the aim of weeding fraud and price manipulation from its stock exchanges.

In May 14, 2018, the New York City Financial Services Department announced that it had approved the Twins’ proposal on their Zcash (ZEC) platform. NYDFS said that the move was “a continuation of New York City’s long-standing commitment to innovation and market leadership.” In the same press release, Gemini CEO Tyler Winklevoss commented that the Twins are “proud to be the first licensed exchange to offer trading and storage services to Zcash.”

Bloomberg News, in a report dated September 10, 2018, said that NYDFS had given Gemini the green light to release a new product, Gemini Dollar, aka GUSD, and would subsequently start trading coins on the same day. Twins described the product as one stable supporting 1:1 against the US dollar.

On October 3, 2018, Twins was said to have obtained digital asset insurance for the tokens and coins held on his stock exchange. The insurance agreement, by Aon-a London public risk consulting company and the next consortium of global underwriters, was said to have been made by Bloomberg Markets.

In May 2020, the company announced it was partnering with Samsung to allow users of Samsung smartphones to link their Samsung Blockchain wallets with their Gemini accounts in order to view balances and transfer crypto data.

NFT

In November 2019, Gemini Trust Co. acquired Nifty Gateway for an undisclosed sum of money. Nifty Gateway is a marketplace for NFTs. The ambition of this NFT market is to act as a custodian for property documents, passports, merchandise, collections, video game characters, movies, music, and all varieties of event tickets among other assets.

License in Europe

Luxemburg

Company activity description

bitFlyer is a cryptocurrency exchange established in Japan in 2014 and operating internationally through separate legal entities. In Europe, bitFlyer EUROPE S.A. is based in Luxembourg and received authorisation as a Crypto-Asset Service Provider (CASP) under MiCA from the Commission de Surveillance du Secteur Financier (CSSF) on 26 June 2026. Its authorised services include custody and administration of crypto-assets, exchanging crypto-assets for funds or other crypto-assets, executing orders and providing transfer services on behalf of clients. The availability of cryptocurrency trading pairs, fiat currencies and fees depends on the customer’s jurisdiction and the applicable product terms.

AMF

Company History

BitFlyer Exchange is an online site where cryptocurrency can be traded. Cryptocurrencies such as Bitcoin, Ethereum, Ethereum Classic, Litecoin, and Bitcoin Cash are traded here. US dollar and Japanese yen are represented as the Fiat. There are two trading options: through a simplified TradingView terminal and a professional Lightning Exchange solution – company’s own development. Only the simplified trading terminal has a mobile version. There are no investment solutions available on the exchange; only the referral program is from the options of passive income. The company develops its own blockchain solutions for business. CAM audit fraud protection, 80% of users’ funds stored cold.

bitFlyer expanded into the European market through its Luxembourg-based entity, bitFlyer EUROPE S.A. The company’s European regulatory status has evolved from its earlier virtual asset and payment-related authorisations to the harmonised MiCA framework. On 26 June 2026, bitFlyer EUROPE S.A. received authorisation as a Crypto-Asset Service Provider from Luxembourg’s financial regulator, the CSSF. This authorisation permits the company to provide specified crypto-asset services throughout the European Economic Area, subject to the applicable passporting and notification requirements. A MiCA authorisation should be distinguished from a payment institution licence, as the two regulatory frameworks cover different financial activities. First of all, traders will be provided only with the BTC/EUR trading pair, while developers plan to add support for more cryptocurrencies such as Litecoin, Ethereum Classic, and Bitcoin Cash over time. “When I founded BitFlyer in 2014, I did so with much ambition and conviction that getting regulatory approval is crucial for the long-run success of Bitcoin as well as of virtual currency industry. I am proud that we are now the most promising cryptocurrency company in the world,” said Yuzo Kano, founder and CEO of BitFlyer.

According to bitFlyer, in 2017, more than $250 billion worth of cryptocurrency transactions were concluded on platforms it controls. In Japan, bitFlyer is the largest bitcoin exchange, raising more than 4.1 billion yen, or $36 million, in venture funding. After all, Europe is the big market for bitFlyer: the monthly global turnover of the BTC/EUR pair counts 10 billion euros because the BTC/EUR is the world’s third-largest bitcoin market after the Japanese yen and the US dollar.

Though the bitFlyer exchange has been rather new in Europe and the US up until now, it has been among the most popular and visited cryptocurrency platforms not only in Japan but also in the Far East in general for a long period of time.

Third, if you had taken a look at sites that rank cryptocurrency exchanges by volume, you could notice how this exchange is always within the top and usually occupies #1.

That is why bitFlyer became one of the very first cryptocurrency exchanges in Japan that got an official license from the Japanese Financial Services Agency – FSA.

Furthermore, it has close to 1 million users, which is relevant given its share in the BTC/JPY market. Bitcoin/Yen accounts for about 60% of the total BTC trading.

Biggest Crypto Exchanges

Cryptocurrency exchanges are crucial for providing liquidity, accessibility, and security of digital asset transactions. Below is a table overview of the largest cryptocurrency exchanges, their key features, and market position.

Exchange	Logo	Description
Binance		Founded in 2017, Binance leads in trading volume and offers diverse services such as futures, options, and staking. Known for low fees and fast transactions, it’s a favorite among global traders.
Coinbase		Established in 2012, Coinbase is a user-friendly exchange, especially popular in the United States. It offers a simple interface, ideal for beginners, and additional services like custodial solutions.
Kraken		Founded in 2011, Kraken is known for reliability and security, attracting professional traders. It provides margin and futures trading along with advanced trading features.
Bitfinex		Since 2012, Bitfinex has been recognized for its technological innovations and wide range of trading options, including margin trading and peer-to-peer lending.
Huobi		Founded in 2013, Huobi is known for its stability and global reach. It offers a large selection of traded cryptocurrency pairs and services such as OTC trading.

Choosing a cryptocurrency exchange depends on factors like fees, features, security levels, and supported assets. Top exchanges like Binance, Coinbase, and Kraken continue to innovate, providing a wide range of services for different types of traders. Staying updated with the latest developments can help users make an informed decision.

Best Crypto Exchange Europe

Cryptocurrency exchanges are vital to the digital asset ecosystem, offering platforms for buying, selling, and trading cryptocurrencies. Europe, known for its robust regulatory framework and financial infrastructure, is home to several reputable exchanges. Below is a comparison of the top cryptocurrency exchanges in Europe, along with their key features and advantages.

Choosing a cryptocurrency exchange in Europe requires assessing regulatory authorisation, custody arrangements, trading fees, liquidity, security controls and available investor protections. Since 1 July 2026, the transitional period under the Markets in Crypto-Assets Regulation (MiCA) has expired throughout the European Union. Crypto-asset service providers must generally hold valid MiCA authorisation or qualify under the framework applicable to certain already-authorised financial institutions. Investors should verify the exact legal entity operating the exchange in the ESMA MiCA register before depositing funds. A licence issued to another company within the same corporate group does not automatically cover all affiliated entities. MiCA authorisation does not guarantee investment returns or protect customers from cryptocurrency market volatility.

Biggest Crypto Exchanges by Volume

Cryptocurrency exchanges facilitate trading and liquidity in the digital asset market. Trading volume is a key indicator of an exchange’s reliability and activity level. Below, we compare the largest exchanges by trading volume.

Exchanges like Binance, Coinbase Pro, Huobi, and OKEx dominate the trading volume, contributing significantly to market liquidity. When choosing an exchange, traders should also consider security, fees, and customer support alongside trading volume.

Trading Volume of Leading Crypto Exchanges

The European Securities and Markets Authority (ESMA) has highlighted the concentration of cryptocurrency trading activity among a relatively small number of major exchanges. However, exchange market shares vary according to the reporting period, trading methodology, asset coverage and whether spot or derivatives transactions are included. Historical market concentration data should not be presented as current trading statistics without reference to the original reporting period.

Since the implementation of MiCA, regulatory authorisation has become an important additional factor when assessing cryptocurrency exchanges in Europe. Investors should verify whether the specific legal entity providing services holds the required authorisation and whether its permitted activities cover the intended transactions.

These exchanges play a crucial role in shaping the global cryptocurrency market. Binance, UPbit, and OKX together hold over 60% of the market share, showcasing their influence in the industry.

Best Country to Open a Cryptocurrency Exchange

Selecting a jurisdiction for establishing a cryptocurrency exchange in Europe requires assessing the applicable licensing framework, supervisory practices, corporate taxation, regulatory capital, operational substance requirements and access to qualified compliance professionals. Since the Markets in Crypto-Assets Regulation (MiCA) became fully applicable on 30 December 2024, the European Union has operated under a harmonised regulatory framework for covered crypto-asset services.

Lithuania and the Czech Republic are potential jurisdictions for establishing a Crypto-Asset Service Provider (CASP), but neither country automatically offers simplified licensing or unrestricted market access. The competent national regulator assesses applications against the requirements of MiCA and applicable domestic legislation. An authorised CASP may provide covered crypto-asset services in other EEA jurisdictions through the applicable passporting procedures, subject to the scope of its authorisation.

Lithuania: Progressive Regulation and Technological Innovation

In less than a decade, Lithuania is racing to the top of the most attractive blockchain technology hubs in Europe. This Baltic country has become a governmental haven for the cryptocurrency industry due to various initiatives undertaken by the administration to make Lithuania an attractive destination for the establishment of crypto exchange startups, including but not limited to the following:

Regulatory Framework: Cryptocurrency exchanges established in Lithuania are subject to Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA) and applicable Lithuanian implementing legislation. The Bank of Lithuania (Lietuvos bankas) is the competent authority responsible for authorising and supervising Crypto-Asset Service Providers (CASPs). Lithuania’s transitional period for previously registered virtual asset service providers expired on 31 December 2025. Since 1 January 2026, businesses previously operating under the national virtual asset registration framework have generally been required to hold MiCA authorisation to continue providing regulated crypto-asset services. Authorised CASPs must comply with governance, prudential, customer protection, operational resilience and AML/CFT requirements.

Taxation and Compliance: Cryptocurrency exchanges incorporated in Lithuania are generally subject to the country’s corporate income tax legislation and applicable accounting and tax reporting requirements. There is no general exemption from corporate income tax merely because a company operates a cryptocurrency exchange or holds MiCA authorisation. The tax treatment of crypto-asset transactions depends on the nature of the activities, the classification of the transactions and the applicable tax legislation. Companies must also assess VAT treatment, transfer pricing obligations, international tax reporting and other requirements relevant to their business model.

Highly Advanced Economy in Technology: Lithuania has a wide technological advancement that may provide an enabling environment where the pace of technological and financial innovation goes hand in hand in the crypto space.

Czech Republic: Stability and Openness to Innovation

The Czech Republic is another ideal destination for crypto exchanges in Europe, offering a host of advantages:

Regulatory Framework: The Czech Republic regulates cryptocurrency exchanges and other covered crypto-asset services under Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA) and the national Digital Finance Act (Act No. 31/2025 Coll.). The Czech National Bank (Česká národní banka, CNB) is responsible for authorising and supervising Crypto-Asset Service Providers (CASPs). The transitional period for eligible existing crypto-asset service providers expired on 1 July 2026. Since that date, companies providing regulated crypto-asset services must generally hold MiCA authorisation or qualify under the applicable framework for certain authorised financial institutions. On 19 October 2026, the Czech National Bank confirmed that 11 domestic CASPs were authorised in the Czech Republic. Companies must comply with applicable prudential, governance, consumer protection, AML/CFT and operational requirements.

Economic Stability: The Czech Republic being part of the European Union guarantees political and economic stability, which acts as a secure option for international investments in the crypto market.

Support for Innovation: The government of the Republic of Czech creates an excellent environment for innovation in blockchain and new technologies, hence offering really fertile ground for virtual currency exchanges.

Advantages of Establishing Crypto Exchange in Lithuania and the Czech Republic

Strong points related to establishing a crypto exchange in Lithuania or the Czech Republic:

• The strategic position in Europe includes the desired countries that allow easy access to the European market; this will ease the burden of reaching a huge customer base for a crypto trading company.
• Progressive steps in technologies: Lithuania, together with the Czech Republic, is among the leading in the pace of digitalization and blockchain technology; hence, it gives a push for more innovation and efficiency within crypto companies.
• Investment Climate: Their friendly policy makes the atmosphere very welcoming for foreign investment in the cryptocurrency market, hence a substantial backbone for growth.

Why Lithuania and the Czech Republic Are the Best for Crypto Exchanges

Lithuania and the Czech Republic offer established corporate and regulatory environments for businesses seeking to provide crypto-asset services within the European Union. Both jurisdictions apply the MiCA framework, although their supervisory procedures, regulatory practices, application requirements and ongoing compliance obligations may differ.

Companies intending to establish cryptocurrency exchanges in either jurisdiction must obtain the appropriate authorisation from the Bank of Lithuania or the Czech National Bank, unless an applicable exemption or alternative authorisation framework applies. The licensing process requires a detailed assessment of the proposed business model, shareholders, management, regulatory capital, governance arrangements, internal controls, client asset safeguarding measures and operational infrastructure.

Regulated United Europe assists cryptocurrency businesses with jurisdiction selection, corporate formation, preparation of MiCA authorisation applications and ongoing regulatory compliance. The most appropriate jurisdiction should be determined by the company’s actual operations, regulatory requirements and long-term business objectives rather than by assumptions concerning simplified registration or preferential treatment.

If you are launching a crypto project and would like to implement it in the most favourable jurisdiction, contact finTech lawyers from
Regulated United Europe
for a free initial consultation.