HashKey enters Irish crypto market with a VASP License

Hong Kong-based cryptocurrency exchange HashKey has secured a license to offer various crypto-related services in Ireland. A Jan. 7 announcement from the company noted that the prominent Asian cryptocurrency exchange has entered the Irish market by securing a Virtual Asset Service Provider license from the Central Bank of Ireland through HashKey Europe Limited, a member of the HashKey Group. The license permits the cryptocurrency exchange to offer several crypto-related services, including fiat-to-crypto and crypto-to-crypto trading, custodial wallet services, and the transfer of virtual assets on behalf of clients. Beyond Ireland and Hong Kong, Haskey has continued expanding its global footprint and secured licenses in Singapore , Japan, and Bermuda . The company, which recently launched its utility token HASK, views the expansion into Ireland as a “critical step toward strengthening its presence in key international markets,” per the announcement. The license comes as part of the European Union’s Markets in Crypto-Assets Regulation, which introduced mandatory licensing requirements starting December 30, 2024, for all crypto service providers operating in the region. You might also like: HashKey Global’s HSK soars to ATH, signaling rising market interest To date, the Irish Central Bank has approved 16 virtual asset service providers, including Ripple, Paysafe, MoonPay, Gemini, and Coinbase. Under MiCAR, VASPs must comply with stringent Anti-Money Laundering and Countering the Financing of Terrorism measures. Additionally, firms undergo thorough assessments of their operational resilience, security protocols, and the fitness and probity of their management and beneficial owners. Exchanges also face stricter reporting requirements, including enhanced monitoring of large and high-value transactions, with additional obligations to ensure transparency and compliance with regulatory standards. In September last year, Irish Central Bank Governor Derville Rowland reiterated the country’s commitment to balancing innovation with security under the MiCA framework. At the time, she said crypto regulations play a key role in ensuring that Ireland remains a secure and forward-thinking financial hub. Read more: Here’s what HashKey’s 30% token allocation for staff could mean for investors