Coinspeaker Crypto.com Secures Regulatory License in Ireland
Crypto.com, a leading digital assets trading platform, has received regulatory approval to operate legally in the Republic of Ireland. In an official announcement on Tuesday, the company said it has been certified by the Central Bank of Ireland to operate as a Virtual Asset Service Provider (VASP).
The company, which boasts over 100 million users globally, can now provide its full range of products in Ireland, including crypto-to-fiat exchanges and custody services in compliance with local regulatory policies.
Crypto.com Subjected to Thorough Review
Crypto.com was subjected to stringent scrutiny before receiving the final nod from the Central Bank to explore the market. The bank reviewed the company’s compliance measures, particularly its capabilities in anti-money laundering (AML) and combating the financing of terrorism (CFT).
Eric Anziani, the President and COO of the company, sees the latest expansion to Ireland as a testament to Crypto.com’s commitment to compliance requirements across its key markets.
“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 suite,” he said.
The firm has now joined the growing list of crypto exchanges expanding to Ireland. Companies like Coinbase and Kraken obtained the same VASP licenses from the Central Bank of Ireland in 2023.
Coinbase even chose Ireland as its European headquarters, highlighting the country’s growing importance in the crypto space.
Expanding Global Footprint
Since its launch in 2016, Crypto.com has been expanding its global presence. Beyond its recent approval in Ireland, the company has secured regulatory licenses in several other countries, demonstrating its dedication to meeting stringent regulatory standards.
In Singapore, the company has received a Major Payment Institution (MPI) license for Digital Payment Token (DPT) services and an e-money issuance license from the Monetary Authority of Singapore.
In France, it operates as a regulated Digital Asset Service Provider (DASP) under the Autorité des marchés financiers (AMF).
The exchange is also fully regulated in Dubai under the Dubai Virtual Assets Regulatory Authority (VARA) and was authorized as an Electronic Money Institution (EMI) by the Financial Conduct Authority (FCA) in the United Kingdom in December 2023.
Additionally, Crypto.com is registered under the Electronic Financial Transaction Act in South Korea, further solidifying its regulatory compliance across key markets.
Commitment to Compliance
The company’s expansion into Ireland and other markets underscores its commitment to compliance and security. By adhering to local regulations and obtaining necessary approvals, the company aims to provide a safe and reliable platform for its users worldwide.
Crypto.com, which prides itself as an industry leader in regulatory compliance, security, and privacy, currently offers a suite of product offerings that align with market demands in various jurisdictions.
Users from across the world where Visa is accepted for payments can buy different cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) on the platform using their cards.
The firm also has a dedicated crypto wallet that allows customers access to the world of decentralized finance (DeFi). Through this wallet offering, users can store all their assets in one place.
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Crypto.com Secures Regulatory License in Ireland