As a researcher, I am thrilled to announce that my work with HashKey, a prominent cryptocurrency exchange based in Hong Kong, has led us to secure a license enabling us to extend our crypto-related services to the vibrant market of Ireland. This expansion signifies a significant step forward for our company as we continue to navigate and innovate within the dynamic world of digital currencies.
On January 7th, the company announced that they’ve expanded into the Irish market by obtaining a Virtual Asset Service Provider (VASP) license from the Central Bank of Ireland. This license was secured through HashKey Europe Limited, which is part of the larger HashKey Group. In simpler terms, the Asian cryptocurrency exchange has now been officially recognized to operate in Ireland.
Under this agreement, the cryptocurrency platform is authorized to provide various cryptocurrency-related functions such as converting fiat money into cryptocurrencies (fiat-to-crypto), swapping one cryptocurrency for another (crypto-to-crypto trading), managing digital wallets for clients’ assets (custodial wallet services), and facilitating the movement of virtual assets on behalf of users (transfer of virtual assets).
Besides Ireland and Hong Kong, Haskey has broadened its international reach further by securing licenses in Singapore, Japan, and Bermuda.
As a researcher, I’m excited to share that our company, having just introduced our utility token HASK, sees the move into Ireland as a pivotal milestone in fortifying our presence within significant global markets, as stated in our recent announcement.
Under the European Union’s Markets in Crypto-Assets Regulation, a compulsory license will be required for any crypto service provider functioning within the region as of December 30, 2024. This regulation is responsible for issuing the licenses.
So far, the Central Bank of Ireland has given approval to 16 companies offering virtual asset services, among them are Ripple, Paysafe, MoonPay, Gemini, and Coinbase.
According to MiCAR, Virtual Asset Service Providers (VASPs) are required to adhere strictly to Anti-Money Laundering and Countering Financing of Terrorism regulations. Furthermore, these entities undergo comprehensive evaluations that cover their operational robustness, safety procedures, the suitability of their management team, and the integrity of their beneficial owners.
Transactions on exchanges are subject to increased scrutiny as well. This involves closer observation of significant and high-priced trades, along with the responsibility to maintain transparency and adhere to regulatory norms more diligently.
Last September, I, as a researcher, affirmed that our nation’s stance, under the leadership of the Irish Central Bank Governor Derville Rowland, remains steadfast on the dual pursuit of innovation and security, within the MiCA framework. At that point in time, she emphasized the crucial importance of regulating cryptocurrencies to maintain Ireland as a secure and progressive financial hub.
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2025-01-07 12:06