TLDR
- HashKey Group obtained VASP registration in Ireland through a European subsidiary
- Registration allows crypto-fiat exchange, wallet services and transfers
- Compliant with EU Fifth Anti-Money Laundering Directive (AMLD5)
- HashKey already has licenses in Hong Kong, Singapore, Japan and Bermuda
- Registration enables operations within the EU’s regulatory framework
HashKey Groupan Asia-based cryptocurrency financial services company, has secured the Virtual Asset Service Provider (VASP) registration. from the Central Bank of Ireland through its European subsidiary, HashKey Europe Limited (HEL).
The registration, granted under Irish regulations, allows HashKey Europe Limited to offer various crypto-related services to European customers. These services include virtual asset-to-fiat currency exchange operations, virtual asset-to-virtual asset trading and digital asset wallet services.
The Irish VASP registration represents HashKey’s first regulatory approval in full compliance with the European Union’s Fifth Anti-Money Laundering Directive (AMLD5). This regulatory framework establishes strict guidelines for crypto service providers operating within EU jurisdiction.
HashKey’s new Irish registration complements its existing regulatory approvals across multiple jurisdictions. The company currently holds licenses in Hong Kong, Singapore, Japan and Bermuda, demonstrating its commitment to operating in regulated environments.
The VASP registration requires HashKey Europe Limited to implement robust anti-money laundering (AML) measures. These include thorough customer due diligence procedures and comprehensive monitoring systems to detect suspicious transactions.
As part of its compliance obligations, HashKey must also maintain Counter-Terrorist Financing (CTF) protocols. These measures help prevent the misuse of virtual assets for illegal activities and ensure the safety of the platform for legitimate users.
The Irish registration enables HashKey to facilitate transfers of virtual assets between accounts while complying with regulatory requirements. This capability enables the company to serve both private and institutional customers in the European market.
HashKey’s expansion into Ireland follows a strategic strategy to establish a presence in key financial centres. The company’s choice of Ireland is in line with the country’s growing reputation as a hub for fintech companies.
The Central Bank of Ireland’s regulatory oversight ensures that registered VASPs maintain high operational standards. These standards include regular reporting requirements and ongoing compliance monitoring.
According to the VASP logging framework, HashKey must keep detailed records of all transactions. This requirement helps authorities track financial flows and ensures transparency in virtual asset operations.
The company’s European subsidiary will operate under the direct supervision of Irish regulators. This oversight includes regular audits and surveys to verify compliance with all applicable regulations.
HashKey’s registration requires the implementation of specific technical infrastructure. This includes secure asset custody systems and robust transaction monitoring protocols.
VASP registration also requires regular staff training on compliance issues. Employees must stay up-to-date on the latest regulatory requirements and anti-money laundering techniques.
HashKey Europe Limited must maintain minimum capital requirements as part of its registration obligations. These financial reserves ensure operational stability and protect customers’ interests.
The latest regulatory data shows that Ireland has approved 12 VASP registrations in the past year, with HashKey being the latest addition to this list. The Central Bank of Ireland continues to process applications from virtual asset providers wishing to establish operations in the country.
