Knaken Bankruptcy Leaves 30,000 Crypto Users Waiting as MiCA Rules Take Effect

Dutch crypto broker Knaken has entered bankruptcy, leaving 30,000 customers uncertain about their digital assets. The Rotterdam-based firm failed to secure a license from the Dutch Authority for the Financial Markets under EU MiCA rules. Knaken has no connection to U.S. exchange Kraken, which continues operating independently. The collapse follows its inability to meet regulatory requirements.