HashKey Obtains VASP License in Ireland
- HashKey has secured a VASP license in Ireland.
- The license allows crypto trading and custody services.
- The licensing aligns with the EU’s MiCA regulations requirement.
In a significant move towards expanding its global presence, HashKey, a Hong Kong-based cryptocurrency exchange, has successfully obtained a Virtual Asset Service Provider (VASP) license from the Central Bank of Ireland.
This achievement was officially announced on January 7, 2025, through HashKey Europe Limited, a subsidiary of the HashKey Group.
Expanding Cryptocurrency Activities in Ireland
The new VASP license enables HashKey to conduct various cryptocurrency-related operations in Ireland. This includes facilitating fiat-to-crypto and crypto-to-crypto trading, offering custodial wallet services, and managing virtual asset transfers for clients.
By securing this regulatory approval, HashKey is entering the European market, expanding beyond its existing locations in Hong Kong, Singapore, Japan, and Bermuda.
Alignment with EU’s MiCA Regulations
The acquisition of the VASP license aligns with the European Union’s Markets in Crypto-Assets (MiCA) Regulation. This regulation mandates that all crypto service providers operating within the EU must obtain such licenses by December 30, 2024. The MiCA framework aims to standardize crypto operations, focusing on consumer protection, market integrity, and financial stability.
Compliance and International Expansion
HashKey views its strategic move into Ireland as a crucial step in strengthening its presence in key international markets. This expansion not only demonstrates HashKey’s commitment to compliance with global standards but also positions it among other prominent entities approved by the Irish Central Bank.
Under MiCA regulations, VASPs are subject to stringent checks, including Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) requirements. They must also demonstrate operational resilience, secure protocols, and management team integrity.
Fostering Innovation in Ireland
HashKey’s licensing follows comments from Irish Central Bank Governor Derville Rowland, emphasizing Ireland’s dedication to fostering innovation while ensuring security in the crypto sector. Ireland aims to maintain its status as a secure and innovative financial hub in the digital asset era.
With this VASP license, HashKey expands its services and solidifies its position as a key player in the global cryptocurrency market, prepared to navigate the complexities of European regulations.
