Cryptocurrency exchange Coinbase said today it has successfully registered with the Central Bank as a Virtual Asset Service Provider (VASP).
This means that Coinbase Ireland will be subject to the Criminal Justice Money Laundering and Terrorist Financing Act 2010, which it said shows its commitment to the highest standards of compliance.
The VASP registration covers two Coinbase entities - Coinbase Europe Limited and Coinbase Custody International Limited, both of which are based in Ireland.
Coinbase Europe provides crypto trading services to customers in Europe, and Coinbase Custody International provides crypto custody services to institutional customers across Europe.
Coinbase has been active in Ireland since 2018 and is engaged in market operations, compliance, cybersecurity, legal and customer experience.
It also today announced Cormac Dinan as its new Country Director for Ireland.
Coinbase said Mr Dinan will oversee business operations for regulated activities, and implement its strategy for scaling the business through new technology and operational efficiencies, while ensuring customers continue to enjoy secure and seamless transactions.
"Coinbase has developed its technology and regulatory procedures alongside the industry as it matures," Mr Dinan said.
"I'm looking forward to strengthening Ireland's operations and helping the sector's continued growth. Creating an environment which champions innovation while strengthening trust in crypto is something I am really eager to progress," he added.
