Amidst the prolonged crypto dip, and crypto firms’ insolvency, Coinbase’s quest to expand across Europe is on the rise.
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Coinbase Expands to Ireland
According to a blog post by Armstrong’s Coinbase on Wednesday, December 21, Coinbase has registered with the Central Bank of Ireland as a virtual assets service provider after which the exchange was granted regulatory approval, and henceforth, Coinbase will be providing virtual asset services to the people of the country.
Further to this, Coinbase also added that the operation in Ireland will henceforth be under the steady hand of Cormac Dinan, the new Ireland Coinbase director.
“Cormac brings more than 20 years of financial service and fintech experience to the role, and we couldn’t be happier to have him on board,” Coinbase wrote in the post, describing the new Coinbase Ireland director.
“As the most trusted and secure crypto exchange, Coinbase has developed its technology and regulatory procedures alongside the industry as it matures. 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,” said Cormac Dinan.
The new Coinbase’s Virtual Assets Provider (VASP) approval means that the exchange will be the subject of the Criminal Justice Money Laundering and Terrorist Financing Act 2010 (as amended), this demonstrates the highest level of commitment to the highest standards of compliance with the Ireland authorities, Coinbase posited in the post.
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