Irish Cryptocurrency Regulations
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:
- Exchange between virtual assets and fiat currencies;
- Exchange between one or more forms of virtual assets;
- 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;
- Custodian wallet provider; and
- 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?
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