“This approval from the Central Bank of Ireland is the latest testament to our commitment to compliance and responsible innovation. We are excited to broaden our offering in Ireland, enabling consumers to engage with the most comprehensive crypto product offering.”
Crypto.com has received approval as a Virtual Asset Service Provider (VASP) from the Central Bank of Ireland, enabling it to further its offering in Ireland, including crypto-to-fiat exchanges and fiat wallets.
The VASP license assures that Crypto.com’s compliance procedures are top-tier, including when it comes to anti-money laundering and combating the financing of terrorism (AML/CFT). These issues are very relevant today as cryptocurrencies have become a popular way to circumvent laws and sanctions. Crypto.com caters to a global client base of 100 million customers.
“The most comprehensive crypto product offering”
Eric Anziani, President and COO of Crypto.com, said: “This approval from the Central Bank of Ireland is the latest testament to our commitment to compliance and responsible innovation. We are excited to broaden our offering in Ireland, enabling consumers to engage with the most comprehensive crypto product offering.”
Crypto.com is a multi-regulated crypto trading platform boasting regulatory authorizations in several jurisdictions, including:
Major Payment Institution (MPI) licence for Digital Payment Token (DPT) and its MPI for e-money issuance, account issuance, cross border and domestic money transfer services from the Monetary Authority of Singapore;registration as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF) in France;full operational approval of its Virtual Asset Service Provider Licence from the Dubai Virtual Assets Regulatory Authority (VARA);authorization as an Electronic Money Institution (EMI) by the UK’s Financial Conduct Authority (FCA);Electronic Financial Transaction Act and Virtual Asset Service Provider registration in South Korea;registration approval as a Digital Currency Exchange Provider and Independent Remittance Dealer in Australia by AUSTRAC; an Australian Financial Services Licence and Australian Credit Licence from the Australian Securities and Investments Commission (ASIC);registration in Spain as a Virtual Asset Service Provider (VASP) from the Bank of Spain; registration in Italy from the Organismo Agenti e Mediatori (OAM);registration in Greece from the Hellenic Capital Market Commission; registration in Cyprus from the Securities and Exchange Commission;regulatory approval from the Cayman Islands Monetary Authority;a US Commodity Futures Trading Commission (CFTC) regulated Derivatives Clearing Organization (DCO) and a Designated Contracts Market (DCM);and a pre-registration undertaking with the Ontario Securities Commission and Canada Securities Administrators.
Crypto.com deemed to be licensed in Hong Kong
The number of cryptocurrency exchanges seeking operational licenses in Hong Kong is steadily decreasing as the deadline approaches. Most recently, three crypto exchanges withdrew their license applications filed with the Securities and Futures Commission of Hong Kong (SFC).
On May 13, crypto exchanges IBTCEX and QuanXLab withdrew their applications, initially filed in February 2024. The next day, Huobi HK, a crypto exchange with links to HTX, also withdrew its application. According to the SFC, seven crypto exchanges have withdrawn their Hong Kong license applications in 2024. The reasons behind these withdrawals were not disclosed on the SFC’s website. All cryptocurrency exchanges that have not applied for a license must cease operations in Hong Kong by May 31.
Currently, 21 crypto exchanges are lined up for Hong Kong’s VATP license, including global players such as Bybit, Crypto.com, Matrixport HK, HKX, and OKX. The most recent application was submitted by Bitcoin World Technology Limited on behalf of the “bitcoinworld” crypto exchange on May 17.
