HashKey has secured a VASP license in Ireland. This license allows cryptocurrency trading and custodial services. The license complies with the EU’s MiCA regulatory requirements.
As part of its move towards global expansion, Hong Kong-based cryptocurrency exchange HashKey has successfully obtained a Virtual Asset Service Provider (VASP) license from the Central Bank of Ireland.
This milestone was announced on January 7, 2025 through HashKey Europe Limited, a subsidiary of HashKey Group.
This new license will enable HashKey to engage in a variety of crypto-related activities within Ireland, including facilitating fiat-to-crypto and crypto-to-crypto transactions. Additionally, the company now offers custodial wallet services and manages the transfer of virtual assets on behalf of its customers.
This regulatory approval marks HashKey’s entry into the European market and expands its footprint beyond its established footprint in Hong Kong, Singapore, Japan and Bermuda.
HashKey’s VASP license in Ireland complies with the EU’s MiCA regulations
Obtaining a VASP license is in line with the European Union’s Market for Cryptoassets (MiCA) Regulation, which requires all cryptoasset service providers operating within the EU to obtain a license by December 30, 2024. are. This regulatory framework aims to ensure standardization. An EU-wide approach to cryptocurrency operations focused on consumer protection, market integrity and financial stability.
HashKey’s strategic move into Ireland is seen by the company as “an important step in strengthening its presence in key international markets”. This expansion not only signifies HashKey’s commitment to compliance with international standards, but also joins HashKey alongside other prominent entities such as Ripple, Paysafe, MoonPay, Gemini, and Coinbase, which have also been approved by the Central Bank of Ireland. It will also position you.
Under MiCA, VASPs are subject to rigorous scrutiny, including anti-money laundering (AML) and counter-terrorism financing (CFT) requirements. They must also demonstrate robust operational resiliency, secure protocols, and management team integrity. Additionally, exchanges are subject to enhanced reporting obligations, particularly regarding large trades, to promote transparency and compliance with regulatory standards.
Notably, the licensing of HashKey comes after the Governor of the Central Bank of Ireland, Derville Rowland, highlighted Ireland’s dedication to fostering innovation while ensuring security within the cryptocurrency sector. Her comments, made last September, highlighted Ireland’s ambition to maintain its position as a safe and innovative financial hub in the digital asset era.
This license not only expands HashKey’s offering, but also strengthens its position as a major player in the global crypto market and prepares it to navigate the complexities of the European regulatory environment.
