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HashKey Europe, a branch of the Hong Kong-based cryptocurrency exchange HashKey, has received authorization for a digital asset service provider (VASP) license from the Central Bank of Ireland.
This license facilitates HashKey’s expansion into the European market, establishing the regulatory framework necessary to offer a variety of crypto-related services.
The approval enables HashKey Europe to perform fiat-to-crypto and crypto-to-crypto exchanges, provide custodial wallet services, and manage the transfer of digital assets on behalf of clients, as stated in an official announcement.
Crypto Service Providers in Ireland Must Register
According to the European Union’s Fifth Anti-Money Laundering Directive (AMLD5), all crypto service providers in Ireland are mandated to register with the central bank to comply with Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulations.
The licensing requirement, reinforced by the Markets in Crypto-Assets Regulation (MiCA) introduced on December 30, 2024, compels all existing crypto service providers to register within three months or face operational suspension.
“This is HashKey Group’s first VASP license fully compliant with the EU’s Fifth Anti-Money Laundering Directive (AMLD5), highlighting its commitment to developing a global Web3 ecosystem within a highly compliant regulatory framework,” the announcement stated.
HashKey Further Expands Our Global Footprint!
We’re thrilled to share that @HashKeyGroup has secured VASP registration approval from the Central Bank of Ireland, reinforcing our commitment to building a global #Web3 ecosystem within a highly compliant regulatory… pic.twitter.com/HL83CWAWPv
— HashKey Group (@HashKeyGroup) January 7, 2025
We’re thrilled to share that @HashKeyGroup has secured VASP registration approval from the Central Bank of Ireland, reinforcing our commitment to building a global #Web3 ecosystem within a highly compliant regulatory… pic.twitter.com/HL83CWAWPvIt is important to mention that HashKey Group has already acquired licenses in Hong Kong, Singapore, Japan, and Bermuda.
In August, HashKey received a Major Payment Institution (MPI) license from Singapore’s regulatory body, allowing for the unlimited provision of payment services.
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In July, HashKey announced the official airdrop of its platform token, HSK, along with plans to distribute 10 million HSK tokens to users through airdrop.
HSK will serve as the central token across HashKey’s array of services, which include licensed exchanges, investment, asset management, tokenization, and infrastructure services.
Crypto Platforms Select Ireland as EU Base
Several prominent cryptocurrency firms have opted for Ireland as their European base, drawn by its favorable regulatory environment and strategic position within the European Union.
For instance, Gemini, a U.S.-based crypto exchange founded by the Winklevoss twins, selected Dublin as its European headquarters in May 2023.
Similarly, Coinbase, another leading U.S. cryptocurrency exchange, has established a significant presence in Ireland.
In October 2023, Coinbase announced Dublin as its primary European hub, in line with the forthcoming Markets in Crypto-Assets (MiCA) regulations.
Additionally, Ripple, a leader in enterprise blockchain solutions, has chosen Ireland as its main entry point into the European Union market.
The company has registered with the Central Bank of Ireland as a digital asset service provider (VASP).
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