Hong Kong-based cryptocurrency exchange HashKey has extended its global reach by securing a license in Ireland to offer crypto-related services.
HashKey's Entry into the Irish Market
HashKey has secured a Virtual Asset Service Provider license from the Central Bank of Ireland through HashKey Europe Limited. This license allows the firm to offer various crypto services, including fiat-to-crypto and crypto-to-crypto trading, custodial wallet services, and the transfer of virtual assets.
EU's MiCAR Regulation
The license acquisition aligns with the European Union’s Markets in Crypto-Assets Regulation (MiCAR), which mandates licensing for all crypto service providers starting December 30, 2024, ensuring compliance with anti-money laundering and counter-terrorism financing measures.
Impact on the Crypto Industry
The license strengthens HashKey's position in key international markets. As of now, the Irish Central Bank has approved 16 virtual asset service providers, including major players like Ripple and Coinbase.
By obtaining this license, HashKey enhances its presence on the international stage, adhering to EU's regulatory requirements, signaling its commitment to becoming a leader in the crypto industry.
