Crypto Exchange Crypto.com Secures Spot on Ireland’s Virtual Assets Service Provider Register

As a seasoned financial analyst with extensive experience in the crypto industry, I’m closely monitoring the latest developments in this dynamic space. The news that Crypto.com has been registered as a virtual asset service provider in Ireland is noteworthy for several reasons.

In simpler terms, Crypto.com has been given the green light to register as a digital asset provider in Ireland. This means the cryptocurrency exchange can now legally serve customers and conduct operations within the EU country.

According to the Central Bank of Ireland’s website, Foris DAX was registered with them on June 7 under that name. This means Crypto.com can now provide crypto-to-fiat conversions and fiat wallet services, as stated in their announcement.

The firm will now be listed among Coinbase, Ripple, and Gemini as crypto companies strive for EU approval before the December activation of the MiCA legislation. EU regulations encompassing the industry enable license-holding crypto asset service providers from any member state to conduct business in all 27 countries.

Crypto.com has obtained licenses in various parts of the world. Notably, their Dubai branch has been given the green light for full operations by the Virtual Assets Regulatory Authority (VARA). Additionally, they have authorization as an electronic money institution in the United Kingdom and registrations in the Netherlands and Spain.