Crypto Exchange Crypto.com secures VASP Approval in Ireland
Crypto.com announced its approval as a Virtual Asset Service Provider (VASP) in Ireland, enabling trading and enhancing its range of services, including fiat wallets and crypto-to-fiat exchanges.
https://t.co/vCNztATSCO is proud to announce that we have been granted Virtual Asset Service Provider (VASP) registration from the Central Bank of Ireland. pic.twitter.com/Dv9Fi5WUCg
— Crypto.com (@cryptocom) June 11, 2024
The world’s largest cryptocurrency trading platform, crypto.com, announced in a blog post on Tuesday that the Central Bank of Ireland (CBI) has granted the company legal approval to operate legally in the Republic of Ireland.
The company was also listed on the register on June 7 under the name Foris DAX.
President and COO of Crypto.com, Eric Anziani, explained the importance of this approval, emphasizing the company's commitment to compliance and its desire to give Irish users access to a full range of cryptocurrency services. The Central Bank of Ireland's approval confirms Crypto.com's dedication to regulatory compliance, but it also presents the platform with numerous opportunities in one of the main financial hubs of Europe, the statement also said.
In an effort to secure approval in EU countries and be prepared for December, when the Markets in Crypto Assets (MiCA) legislation goes into full effect, the company has joined United States-based crypto exchanges Coinbase, Ripple, and Gemini Exchange on the register. The bloc's extensive industry regulation enables companies holding a crypto asset service provider license from any member state to operate throughout all 27 countries. As of June 7, there were 14 entities on the complete list of registered VASPs in Ireland.
In May, the Virtual Assets Regulatory Authority (VARA) granted full operational approval to the company's Dubai entity to offer institutional crypto trading. In addition, it is registered in the Netherlands and Spain and has authorization as an electronic money institution from the United Kingdom.
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