Cryptocurrency platform Gemini has received the first Virtual Asset Service Provider (VASP) registration from the Central Bank of Ireland.
The company is now approved to provide its crypto services to individuals and institutions in the Irish market.
Gemini is a platform that offers tools to buy, sell and store cryptocurrencies like Bitcoin and Ether.
It was founded in 2014 in the US by twin brothers Cameron and Tyler Winklevoss.
The company recently secured an Electronic Money Institution (EMI) authorisation from the Central Bank, the first such authorisation granted since 2020.
Gillian Lynch, Head of Ireland and Europe at Gemini, described the latest development as a huge step towards offering its cryptocurrency services in Ireland.
"We believe that regulation is vital to protect investors and offer a safe experience with digital assets," she said.
"We are delighted that following a thorough review of our security and compliance programmes, the Central Bank has issued Gemini with a VASP registration," she added.
The VASP registration was introduced in Ireland last year and requires the Central Bank to review the effectiveness of crypto businesses' anti-money laundering and counter terrorist financing policies and procedures, as well as the fitness of management teams.
In March, the Central Bank issued a warning on the risks of investing in crypto assets, as part of a European-wide awareness campaign.
"Crypto assets are highly risky and speculative, and may not be suitable for retail customers," the warning stated.
