Coinbase received a license from the Irish regulator to work in the country

The Central Bank of Ireland has issued a Virtual Asset Service Provider (VASP) license to cryptocurrency exchange Coinbase, allowing the platform to provide services to residents of Ireland and Europe. Coinbase management announced that through this license, the exchange will be able to provide products and services related to digital assets to individuals and organizations in Ireland and European countries.. The license covers two companies registered in Ireland: Coinbase Europe Limited and Coinbase Custody International Limited. Cormac Dinan has been appointed as the new director of the Irish division of Coinbase. Coinbase Vice President of International and Business Development Nana Murugesan said Coinbase Ireland will now be subject to the Money Laundering and Terrorist Financing Act 2010.. Therefore, obtaining regulatory approval demonstrates that Coinbase is committed to complying with strict standards, Murugesan noted.. She also spoke about the European Union Cryptocurrency Regulation Bill (MiCA), saying that this initiative will be a step towards creating an international regulatory framework for the regulation of cryptocurrencies. Earlier, the Central Bank of Ireland repeatedly warned the public about the risks of investing in digital assets and dealing with unregistered VASPs.. Last year, the regulator called bitcoin and other crypto assets speculative unregulated investments, comparing them to gambling.. Irish central banker Derville Rowland has warned crypto investors that if they lose money while investing in dubious products, they will not have legal protection, as if they had invested in a regulated product. Last year, the Central Bank of Ireland ordered cryptocurrency companies to verify the identity of customers in order to reduce the level of anonymity and prevent money laundering.