Update – Regulation of providers of services relating to virtual assets

As from 23rd April 2021, all crypto and blockchain businesses in Ireland classified as Virtual Asset Service Providers will need to complete the Central Bank of Ireland registration process. This will apply to entities providing the following services:

  1. exchange between virtual assets and fiat currencies;
  2. exchange between one or more forms of virtual assets;
  3. transfer of virtual assets, that is to say, to conduct a transaction on behalf of another person that moves a virtual asset from one virtual asset address or account to another;
  4. custodian wallet provider; and
  5. participation in, and provision of, financial services related to an issuer’s offer or sale of a virtual asset or both.

Further information is available on the Central Bank of Ireland website.

 

For advice or assistance in relation to the registration process, please contact Andrew Tzialli or Rachel McCausland.

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