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Mustafa Mulla
Mustafa Mulla
Author
Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
- Jan 07, 2025 09:40 UTC
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Major Win! HashKey Europe Secures Crypto VASP License in Ireland
HashKey gets VASP approval, expanding crypto services under new EU MiCA regulations.
HashKey now offers fiat-to-crypto exchanges, wallet services, and virtual asset transfers in Ireland.
HashKey’s VASP license meets AMLD5, ensuring strong regulatory compliance in the European market.
HashKey Group, a top digital asset services provider in Asia, has made a significant move into the European market. Its European arm, HashKey Europe Limited, has received approval from the Central Bank of Ireland for a Virtual Asset Service Provider (VASP) license. This approval allows HashKey to offer a variety of crypto services under the newly implemented Markets in Crypto-Assets (MiCA) regulations.
A Milestone for HashKey!
On January 7, HashKey Group announced its successful registration as a VASP with Ireland’s central bank.
This license enables HashKey Europe Limited to provide key services, such as fiat-to-crypto exchanges, crypto-to-crypto trading, custodial wallet solutions, and virtual asset transfers for third parties.
This step is part of HashKey’s strategy to strengthen its global presence. The company already operates under licenses in Bermuda and prominent Asian markets, including Hong Kong, Singapore, and Japan. With the Irish VASP license, HashKey enhances its position as a major player in the cryptocurrency ecosystem.
For HashKey, this marks the company’s first VASP license fully aligned with the EU’s Fifth Anti-Money Laundering Directive (AMLD5), reinforcing its commitment to maintaining a strong, compliant regulatory framework as it builds a global Web3 ecosystem
Significance of the VASP License
The VASP license from Ireland’s central bank is a critical step, ensuring HashKey’s operations align with Ireland’s legal framework. This approval enables the company to provide secure and regulated crypto services in the region.
MiCA regulations required all crypto service providers in the EU to secure VASP registration by December 30, 2024. These rules aim to improve security and consistency across the EU crypto industry while ensuring compliance.
MiCA’s Impact on Crypto Regulation
The MiCA regulations set high standards for cryptocurrency service providers, fostering both security and innovation. Derville Rowland, Deputy Governor of the Central Bank of Ireland, highlighted that these rules aim to make financial services more accessible while encouraging innovation.
Ireland also plans to enhance collaboration with other EU nations to create a seamless regulatory environment for crypto companies.
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As Europe continues to emerge as a leader in crypto regulation, HashKey’s entry into the market shows the region’s growing appeal for forward-thinking digital asset firms.
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