© Reuters
DUBLIN – Blockchain payments company Ripple has obtained registration with the Central Bank of Ireland as a Virtual Asset Services Provider (VASP). This development marks an important milestone for Ripple, allowing the company to expand its services across the European Economic Area (EEA) in anticipation of the upcoming Markets in Crypto-Assets (MiCA) regulation, which implementation is planned for the end of 2024.
Registration by the Central Bank of Ireland allows Ripple to take advantage of the growth of the digital economy in Europe. The company’s move aligns with regulatory advancements and reflects a proactive approach to compliance with the upcoming MiCA rules, which aim to harmonize the cryptocurrency market across the EEA. By achieving VASP status, Ripple can now operate with greater regulatory clarity and offer its services to a broader European customer base, potentially strengthening its market presence in the region.
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