Coinbase gets green light from Ireland's central bank for VASP role

Coinbase Global ( NASDAQ: COIN ) has registered with the Central Bank of Ireland as a virtual asset service provider (VASP) in the country, it said in a recent blog post . The VASP registration subjects the cryptocurrency exchange to the Criminal Justice Money Laundering and Terrorist Financing Act 2010. Of note Coinbase ( COIN ) first started operating in Ireland in 2018, and received its e-money license in the country a year later. Coinbase Europe Limited and Coinbase Custody International Limited, both of which are located in Ireland, are covered by the VASP registration. The move comes as Coinbase ( COIN ) seeks to expand its crypto services globally while complying with local regulations. "Our Irish regulatory approval demonstrates our commitment and collaboration with the Central Bank of Ireland," said Nana Murugesan, vice president of International and Business Development at Coinbase. "Coinbase views regulation of the industry as an enabler for crypto’s growth, setting clear ground rules that will create an environment which encourages innovation and strengthens trust in the sector,” the executive added. Through hubs in Ireland, the U.K. and Germany, Coinbase ( COIN ) serves its customers across nearly 40 European countries, it said, adding that further registrations and license applications are in the works in several major markets. Despite a lingering bear market, Coinbase's global push continues going strong. In September, Coinbase won regulatory approval to offer crypto products in the Netherlands .