HashKey Europe, the European arm of the Hong Kong-based cryptocurrency exchange, has secured a Virtual Asset Service Provider (VASP) license from Ireland’s Central Bank, marking a crucial milestone. This certification is consistent with the European Union’s Markets in Crypto-Assets Regulation (MiCA), which went into force in late 2024 and created a regulated framework for crypto-related operations.
This new license enables HashKey to offer a variety of cryptocurrency services, such as fiat-to-crypto and crypto-to-crypto trading, custodial wallet management, and digital asset transfers. Operating under MiCA’s tight requirements ensures that the firm follows anti-money laundering (AML) and counter-financing of terrorism (CFT) regulations, increasing transparency and trust in its operations.
HashKey’s debut into the Irish market underscores its desire to broaden its worldwide presence and support innovation in the cryptocurrency ecosystem. In addition to Ireland, the firm operates in Hong Kong, Singapore, Japan, and Bermuda.
The introduction of MiCA has established a new norm for the cryptocurrency business in the EU. Under this law, all crypto service providers must get a VASP license from a member state’s financial regulator and adhere to stringent compliance criteria. The law grants enterprises operating under the previous system a transitional time of up to 12 months to achieve full authorization.
HashKey’s licensing achievement indicates its commitment to meeting worldwide regulatory standards while providing secure and efficient crypto services. As the cryptocurrency market evolves, such initiatives highlight the necessity of compliance in creating a healthy and innovative digital asset ecosystem.
