TLDR
- Kanga secured a Class 3 MiCA license in Latvia through SIA AlphaRoute.
- The Bank of Latvia granted the authorization on June 18.
- The license allows Kanga to offer crypto custody, trading, and transfer services across the EU.
- Kanga will operate under the Kanga Exchange EU brand.
- The approval comes as Poland remains without MiCA implementation legislation before the July 1 deadline.
Polish-founded crypto exchange Kanga has secured a MiCA license in Latvia, giving it a regulated route into European markets. The approval allows SIA AlphaRoute to operate under the Kanga Exchange EU brand across the bloc. The decision comes as Poland still lacks domestic MiCA implementation rules before the July 1 deadline.
Kanga Wins Latvian Approval for EU Services
The Bank of Latvia granted the Class 3 MiCA license on June 18. Its Supervisory Committee approved the authorization, according to a company statement.
The license covers crypto custody, trading, and transfer services across the European Union. Kanga said the approval supports service delivery through the EU cross-border notification procedure.
SIA AlphaRoute CEO Dominik Tomczyk said the company started preparations before the license decision. Kanga began its Latvian pre-licensing process in November 2025 after reviewing several jurisdictions.
“From the very beginning, we knew that we had to use the transitional period,” Tomczyk said. He said the company prepared the organization for the new MiCA regulatory framework.
Kanga said it will share more customer details through official channels. The exchange said those updates will cover operational changes and service terms.
The license places the company under Latvia’s oversight structure. It also gives the Polish-founded exchange a base for regulated EU operations.
Poland’s Crypto Bill Faces New Political Delay
Kanga received the Latvian license while Poland continued to work on MiCA legislation. The country still faces a deadlock before the deadline on July 1.
President Nawrocki vetoed a government-backed crypto bill for the third time on June 11. He said the revised versions did not resolve his concerns.
He objected to rules he viewed as too restrictive for crypto companies. His decision kept Poland without a domestic framework.
Members of Poland 2050 then submitted a new proposal within Prime Minister Donald Tusk’s coalition. The proposal includes changes requested by the president, according to its sponsors.
The sponsors said the draft would cut some fees and remove some regulatory provisions. They also said the plan would make the framework less restrictive for crypto firms.
Poland 2050 reportedly urged lawmakers to fast-track the new bill through parliament. However, the country had not completed the implementation of legislation before Kanga announced the Latvian approval.
Poland’s crypto market faces pressure from a fraud investigation into Zonda. Prosecutors estimate customer losses at more than 350 million zlotys, or about $92.7 million.
