The Irish government approved Crypto.com’s application to register as a virtual asset service provider, enabling the cryptocurrency exchange to conduct business there. According to the Central Bank of Ireland website, the company was listed on the registry as of June 7 under the name Foris DAX.
According to a statement from the company, Crypto.com will now be able to provide fiat wallets and crypto-to-fiat exchanges. As cryptocurrency companies compete for clearance in EU countries to guarantee they are prepared for December, when the Markets in Crypto Assets (MiCA) regulation becomes fully active, the company joins Coinbase, Ripple, and Gemini on the registry.
Businesses holding a crypto asset service provider licence from any member state are able to operate in all 27 countries because to the bloc’s extensive industry regulations. Licences for Crypto.com have been granted all over the world. The Virtual Assets Regulatory Authority (VARA) has granted full operational approval to the company’s Dubai entity. In addition, it is registered in the Netherlands and Spain and has authorization as an electronic money institution from the United Kingdom.