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

The company has also received approval in Dubai, U.K., the Netherlands and Spain.

By Camomile Shumba
AccessTimeIconJun 11, 2024 at 12:12 p.m. UTC
Updated Jun 11, 2024 at 6:00 p.m. UTC
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  • Crypto.com was registered as a virtual asset service provider in Ireland last week.
  • Crypto companies are vying to win approval in EU nations to be ready for December, when the Markets in Crypto Assets (MiCA) legislation becomes fully operational.

Crypto.com received approval to register as a virtual asset service provider in Ireland, allowing the crypto exchange to operate in the European Union nation.

The company was listed on the register as of June 7 under the name Foris DAX, the Central Bank of Ireland's website shows. Crypto.com will now be able to offer crypto-to-fiat exchanges and fiat wallets, the company said in a statement.

The company joins Coinbase, Ripple and Gemini on the register as crypto companies vie to win approval in EU nations to ensure they are ready for December, when the Markets in Crypto Assets (MiCA) legislation becomes fully operational. The bloc's wide-ranging rules for the industry allow firms with a crypto asset service provider license from any member state to operate across all 27 nations.

Crypto.com has received licenses across the globe. Recently, the company's Dubai entity received full operational approval from the Virtual Assets Regulatory Authority (VARA). It also has U.K. authorization as an electronic money institution as well as registration in the Netherlands and Spain.

Edited by Sheldon Reback.



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Camomile Shumba
Camomile Shumba

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.

Follow @camomileshumba on Twitter