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Cryptocurrency regulation in Ireland

The Central Bank of Ireland is a regulator of all Financial Services companies in Ireland. Fintech companies established in Ireland benefit from streamlined procedures, reduced bureaucracy and no regulatory fees.

Central Bank of Ireland
New Legislation and Rules in place since 23 April 2021

Criminal Justice (Money Laundering and Terrorist Financing) (Amendment)
Act 2021 (‘2021 Act’)
New Legislation and Rules in place since 23 April 2021
Virtual asset service providers (VASPs) operating in Ireland are now subject to Ireland’s AML/CFT framework and must register with the Central Bank of Ireland.

A VASP carrying on business in Ireland is now a “designated person” for the purposes of the Irish anti-money laundering (AML)/countering the financing of terrorism (CFT) framework, meaning that it is subject to AML/CFT obligations generally, and will need to register with the Central Bank of Ireland (CBI). These requirements came into effect on 23 April 2021.

The 2021 Act provides a specific registration regime for Virtual Asset Service Providers (VASPs). For the purposes of the legislation, VASPs are firms that provide any of the following services relating to virtual assets:

  1. exchange between virtual assets and fiat currencies;
  2. exchange between one or more forms of virtual assets;
  3. transfer of virtual assets, that is to say, to conduct a transaction on behalf of another person that moves a virtual asset from one virtual asset address or account to another;
  4. custodian wallet provider; and
  5. participation in, and provision of, financial services related to an issuer’s offer or sale of a virtual asset or both.
All companies providing VASP services, they must register with the Central Bank under the Central Bank’s VASP registration regime.

Considering setting up your crypto-trade company in Ireland?

You will find all related and relevant information in our website. However, should you have any question or matter you would like to discuss with us, before you take a decision to register your business company in Ireland, do contact us.

One of our Business Development Managers will be here ready to guide and assist you.