The Latest Crypto.com VASP Approval in Ireland 🚀
Exciting news for crypto enthusiasts in Ireland! The Central Bank of Ireland (CBI) recently granted Virtual Asset Service Provider (VASP) approval to Crypto.com, expanding the company’s offerings in the country🎉. Let’s delve into the details of this significant development and what it means for the crypto landscape in Ireland.
Crypto.com’s Expansion in Ireland
Crypto.com is proud to announce that it has received Virtual Asset Service Provider (VASP) registration from the Central Bank of Ireland, a major milestone for the company.
- Regulatory Approval: The approval granted by the CBI allows Crypto.com to provide a wider range of services in Ireland, including crypto-to-fiat exchanges and fiat wallets.
- Prestigious Company: With this approval, Crypto.com joins an exclusive group of regulated crypto firms in Ireland, demonstrating its commitment to compliance and transparency in the industry.
- Industry Players: The list of registered VASPs in Ireland now includes reputable names such as Coinbase, Ripple, Gemini exchange by the Winklevoss brothers, MoonPay, and Zodia custody platform by Standard Chartered.
The Progressive Stance of Ireland Towards Crypto Regulation ⚖️
As of June 7, Ireland has officially approved 15 entities as VASPs, highlighting the country’s forward-thinking approach to cryptocurrency regulation.
- Recent Approvals: In 2024, the CBI approved four new VASPs, including Foris DAX Global, Fortuna Digital Custody, Ramp Swaps, and Crypto.com, underscoring the growing interest and investment in the Irish crypto market.
- Market Dynamics: While some crypto firms have exited Ireland, major players like Coinbase have chosen the country as their European crypto hub due to regulatory clarity and the adoption of the Markets in Crypto-Assets Regulation (MiCA).
Crypto.com’s Milestone in Dubai 🏝️
Beyond Ireland, Crypto.com has achieved another significant feat by obtaining approval from the Virtual Assets Regulatory Authority (VARA) in Dubai, paving the way for services targeting institutional investors.
- Global Expansion: This milestone positions Crypto.com as the first global crypto exchange authorized to operate with fiat currency in the UAE, showcasing its commitment to compliance and operational excellence.
- Licensing Achievements: In addition to the VARA approval, Crypto.com has secured other essential licenses, including a Major Payment Institution (MPI) license in Singapore and registration as a Digital Asset Service Provider (DASP) in France.
- Future Products: The company has ambitious plans to launch new products for retail customers, including the Crypto.com App, and has received authorization as an Electronic Money Institution (EMI) from the UK’s Financial Conduct Authority (FCA).
Hot Take: The Future of Crypto.com 🚀💰
With the recent VASP approvals in Ireland and Dubai, Crypto.com is poised for continued growth and expansion in the global crypto market. Stay tuned for exciting developments from this innovative company as it navigates the evolving regulatory landscape and pursues new opportunities for crypto enthusiasts worldwide.
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