Central Bank of Ireland Gives VASP License to Crypto.com

By Novasky | DevPress | 12 Jun 2024


Crypto.com has turning out to be Binance alternative over the years. Some of the nations don't have the presence of the crypto.com but the Europe is slowly adopting to the crypto.com presence. And they are also offering the license to the banks and the exchanges for working in the nation. In europe all these nations require you to have a virtual asset service provider license. So the stocks and the crypto would require this license. Central bank of Ireland has given this to the crypto.com

Europe is very strict with the AML rules and the regulations. And they are united on the AML level regulations in each nation in EU. And if you open license in one nation it would get the clients across EU which includes the Ireland and other places too. It may require a bit more presence and also have to abide by those EU based crypto business license and also the banking license before the payments can be issued. However initial license is the start towards the right direction.

Virtual Asset Service Provider (VASP) license is pretty good achievement. And if you expect the exchange like app usage in the EU that would be a process for them to follow. They are straight up into the crypto market service and they have got the license so things would only move in a positive direction from here onwards. Let's see what gets made in a better way from here. 

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Novasky
Novasky

Crypto Blogger and Open Source Developer.


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