Polish crypto exchange Kanga secures MiCA license in Latvia, passports services across the EU

Kanga, a crypto exchange founded in Poland, says its operator SIA AlphaRoute has obtained a Class 3 MiCA license from the Bank of Latvia. That matters for payments and crypto PSPs because the license covers custody, trading, and transfers across the European Union under passporting rules.

1. The Bank of Latvia granted the license on June 18, after its Supervisory Committee approved the authorization, according to a Wednesday statement shared with Cointelegraph. Kanga said the permit allows it to provide crypto custody, trading, and transfer services across the EU.
2. The company said it started the pre-licensing process in Latvia in November 2025, after reviewing several jurisdictions. SIA AlphaRoute CEO Dominik Tomczyk said the team used the MiCA transitional period to prepare the organization for the new regulatory framework.
3. Kanga’s approval lands while Poland still has no MiCA implementation legislation ahead of the EU’s July 1 transitional deadline. Lawmakers are still trying to break a deadlock after three presidential vetoes, so the home market remains a regulatory work in progress while Kanga has already secured an EU base elsewhere.
4. On June 11, President Nawrocki vetoed a government-backed crypto bill for a third time, saying successive versions still did not address his objections, including provisions he viewed as too burdensome for crypto companies. Members of the Poland 2050 party have since reportedly submitted a new proposal with several requested changes, including lower fees and fewer regulatory provisions.
5. Poland’s crypto sector is also under heavier scrutiny after a fraud investigation into Zonda, the country’s largest crypto exchange. Prosecutors estimate customer losses exceed 350 million zlotys (about $92.7 million), which is the kind of headline that tends to make banks and PSP risk teams read the file twice.

For high-risk PSPs, the practical takeaway is simple: Kanga has chosen Latvia as its MiCA launchpad, while Poland’s own framework is still stuck in legislative limbo. That creates a split picture for anyone assessing where crypto businesses can onboard, passport, and operate with less friction inside the EU.