- Crypto.com garners approval as a Virtual Asset Service Provider (VASP) from the Central Bank of Ireland, marking an essential regulatory milestone.
- The firm’s global regulatory strides include endorsements from authorities in Singapore, France, Dubai, and the UK, among others.
- Eric Anziani, President and COO of Crypto.com, emphasized the company’s dedication to compliance and innovation in a recent statement.
Crypto.com secures VASP approval in Ireland, strengthening its global regulatory portfolio and enhancing customer trust.
Crypto.com’s VASP Approval from the Central Bank of Ireland
Crypto.com recently secured approval from the Central Bank of Ireland as a Virtual Asset Service Provider (VASP), a significant achievement for the company. This approval came after a thorough examination of Crypto.com’s anti-money laundering (AML) and combating the financing of terrorism (CFT) compliance measures. This regulatory nod allows Crypto.com to offer cryptocurrency-to-fiat exchanges and fiat wallets to its Irish customer base, further extending its market reach in Europe.
Global Regulatory Momentum
With the VASP approval in Ireland, Crypto.com continues its global regulatory winning streak. The company already holds significant licenses, such as the Digital Payment Token (DPT) and Major Payment Institution (MPI) licenses from the Monetary Authority of Singapore and the Digital Asset Service Provider (DASP) registration by the AMF in France. In addition, Crypto.com possesses an electronic money institution license from the Financial Conduct Authority (FCA) in the UK and has received VASP license clearance from Dubai’s Virtual Assets Regulatory Authority (VARA).
Expanding Compliance and Trust Globally
Crypto.com’s recent regulatory approvals showcase its ongoing commitment to compliance and operational excellence. “This approval is a testament to Crypto.com’s ongoing commitment to compliance and responsible innovation. We are excited to expand our comprehensive and secure crypto product offerings in Ireland,” remarked Eric Anziani, President and COO of Crypto.com. The company’s extensive compliance efforts have significantly bolstered its global presence, enhancing trust amongst its growing customer base.
Broader Implications for the Crypto Market
In addition to its efforts in Ireland, Crypto.com has rapidly expanded its regulatory footprint worldwide, securing approvals in key jurisdictions such as South Korea, Australia, Spain, Italy, Greece, Cyprus, the Cayman Islands, and Canada. In the United States, Crypto.com operates within the regulatory framework of the Commodity Futures Trading Commission (CFTC), managing designated contract markets and derivatives clearing organizations. These strategic regulatory endorsements not only fortify Crypto.com’s standing but also set a precedent for industry-wide compliance and innovation.
Conclusion
Crypto.com’s latest VASP approval from the Central Bank of Ireland underscores its strategic commitment to regulatory compliance and responsible expansion. By securing key regulatory endorsements across multiple global jurisdictions, Crypto.com not only enhances its service offerings but also builds robust customer trust. As the company continues to lead in compliance, its global footprint strengthens, paving the way for broader industry acceptance and innovation. This milestone positions Crypto.com as a pivotal player in the evolving financial landscape.
