of Central Bank of Ireland Subsidy coin base License to operate as a Virtual Asset Service Provider (VASP). This means the company can continue to provide products and services from Ireland to individuals and institutions across Europe and internationally.
After VASP registration, Coinbase Ireland will be subject to the Criminal Justice Money Laundering and Terrorist Financing Act 2010. VASP established in Ireland Must be registered with the central bank for AML/CFT purposes.
Coinbase has been active in Ireland since 2018. The VASP registration covers his two entities, Coinbase Europe Limited and Coinbase Custody International Limited. Both are based in Ireland.
Coinbase Europe provides crypto trading services to European customers and Coinbase Custody International provides crypto custody services to European institutional customers.
In addition, cryptocurrency exchange platforms are Cormac Dinan as the new country director. He oversees the business operations of regulated activities and implements the company’s strategy for expanding the business through new technologies and operational efficiencies. He also ensures that customers “continue to enjoy a safe and seamless transaction.”
Dinan commented: We look forward to strengthening our Irish business and supporting the sector’s continued growth. Creating an environment that champions innovation while strengthening trust in crypto is something I really want to move forward. ”
The VASP registration follows the company’s previous recognition by the Central Bank of Ireland as an Electronic Money Institution (EMI). It also said additional registration or license applications are underway in other major markets.
“Coinbase views industry regulation as an enabler for cryptocurrency growth, setting clear ground rules to create an environment that fosters innovation and strengthens confidence in the sector.” Mr. Muruge, Vice President of International and Business Development at Coinbase.