HashKey Obtains a VASP License in Ireland

Reading Time: < 1 minute

HashKey Europe, a subsidiary of the Hong Kong-based cryptocurrency exchange HashKey, has been granted a virtual asset service provider (VASP) license by the Central Bank of Ireland. This approval was announced by the HashKey Group on January 7, signaling their expansion into the Irish market.

Under the Fifth Anti-Money Laundering Directive (AMLD5) of the European Union, all crypto service providers in Ireland must register with the central bank in order to comply with Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) measures.

With the VASP license, HashKey is authorized to offer a range of crypto services such as fiat-crypto and crypto-crypto exchanges, custodial wallet services, and digital asset transfers on behalf of others.

The Central Bank of Ireland requires VASP approval for entities involved in the issuance or sale of virtual assets in any capacity.

Ireland is a key market for international expansion for the crypto exchange, which also holds operational licenses in other countries such as Bermuda, Hong Kong, Singapore, and Japan.