Kanga, a Polish founded cryptocurrency exchange, has secured a Class 3 Markets in Crypto Assets, or MiCA, license in Latvia, giving the company the regulatory approval needed to expand its crypto services throughout the European Union.
The license was granted by the Bank of Latvia on June 18 to SIA AlphaRoute, the entity that will operate under the Kanga Exchange EU brand. The authorization enables the company to offer digital asset custody, trading, and transfer services across EU member states through MiCA’s passporting framework.
Kanga Chooses Latvia for European Expansion
The licensing milestone gives Kanga a regulated gateway into the European market at a time when many crypto firms are adapting to the European Union’s new digital asset framework.
According to the company, the approval allows it to serve customers across the bloc using MiCA’s cross border notification process instead of seeking separate approvals in each member state.
Dominik Tomczyk, Chief Executive Officer of SIA AlphaRoute, said the company deliberately moved early to take advantage of MiCA’s transition period.
“From the very beginning, we knew that we had to use the transitional period.
Dominik Tomczyk
Chief Executive Officer – SIA AlphaRoute
Tomczyk added that the company began preparing for the licensing process in November 2025 after evaluating several jurisdictions and used the transition period to align its operations with the new regulatory framework before the upcoming deadline.
Kanga also said customers will receive additional information through its official communication channels regarding platform updates and revised terms of service related to the new regulatory status.
Poland Still Awaits Full MiCA Implementation
Kanga’s decision to obtain its license in Latvia comes while Poland continues to work through its domestic implementation of the European Union’s MiCA framework.
The country’s regulatory process has faced repeated delays after President Karol Nawrocki vetoed the government’s proposed cryptocurrency legislation for the third time on June 11, arguing that the latest version still imposed excessive burdens on crypto businesses and failed to address his previous concerns.
Following the veto, lawmakers from the Poland 2050 party introduced a revised proposal that seeks to reduce certain regulatory fees, remove selected compliance requirements, and create a less restrictive framework for cryptocurrency companies.
Despite those efforts, Poland had not finalized its MiCA implementation before Kanga announced its Latvian approval, prompting the exchange to establish its regulated European base outside its home market.
The broader Polish crypto sector has also faced increased scrutiny following an ongoing investigation involving Zonda, where prosecutors estimate customer losses exceeded 350 million zlotys, or approximately $92.7 million.
Why the MiCA License Matters?
The MiCA framework establishes a unified regulatory system for crypto asset service providers across the European Union. Companies that obtain authorization in one member state can generally offer regulated services throughout the bloc without securing separate licenses in every country.
For Kanga, the Latvian approval provides regulatory certainty and creates a foundation for expanding its presence across the European market while Poland continues to finalize its own crypto legislation.