On the other side of Ireland and Hong Kong, Hashkey has carried on broadening its global footprint and protected licenses in Singapore, Japan, and Bermuda.
In September 2024, Irish Central Bank Governor Deville Rowland recapitulated the commitment of the country to stabilize the revolution by having security under the MiCA substructure.
Until now, the Irish Central Bank has accepted 16 digital asset services offerers, such as Ripple, Paysafe, MoonPay, Gemini, and Coinbase.
HashKey, a Hong Kong-based digital asset financial services group has secured a license to provide crypto-associated services in Ireland.
A publicization from January 7, highlighted that the major crypto exchange from Asia has set its foot into the Irish market by safeguarding a Virtual Asset Service Provider license from the Central Bank of Ireland through HashKey Europe Limited.
The license allows the crypto exchange to provide various crypto-associated services, such as fiat-to-crypto and crypto-to-crypto trading, custodial wallet services, and the shift of digital assets on behalf of clients.
The broadening of the global footprint
On the other side of Ireland and Hong Kong, Hashkey has carried on broadening its global footprint and protected licenses in Singapore, Japan, and Bermuda. The firm which newly introduced its utility token HASK, views its growth in Ireland as a crucial step toward building up its presence in key international markets,” as per the announcement.
The license is a part of the European Union’s Markets in Crypto-Assets Regulation, which launched required licensing requirements initiating from December 30, 2024, for all crypto service offerers functioning in the region.
The acceptance by the Central Bank
Until now, the Irish Central Bank has accepted 16 digital asset services offerers, such as Ripple, Paysafe, MoonPay, Gemini, and Coinbase. Under MiCAR, VASPs must abide by strict Anti-Money Laundering and Countering the Financial of Terrorism measures.
Adding more to this, companies go through rigorous assessments of their operational resilience, security protocol as well as the fitness and integrity of their management and beneficial owners. Exchanges also face harsh reporting needs, consisting of intensified monitoring of large and high-value transactions, and having extra commitment to ensure transparency and compliance with the regulatory level.
In September 2024, Irish Central Bank Governor Deville Rowland recapitulated the commitment of the country to stabilize the revolution by having security under the MiCA substructure. All the while, she revealed crypto regulations play a major role in making sure that Ireland is still a secure and progressive financial hub.
