By Mark Hunter
2 days agoThu Dec 21 2023 09:35:27
Reading Time: < 1 minute
- Ripple has secured authorization as a Virtual Asset Service Provider (VASP) from the Central Bank of Ireland
- The approval brings Ripple under the regulatory supervision of the Central Bank
- Ripple was awarded an operational license in Singapore in October
Ripple has achieved authorization from the Central Bank of Ireland as a Virtual Asset Service Provider (VASP), marking a significant development in the regulatory landscape for crypto firms. The approval brings Ripple under the regulatory supervision of the Central Bank, ensuring compliance with anti-money laundering (AML) and criminal financing regulations.
This development aligns Ripple with other major players in the crypto industry that have received authorization under the VASP regime from the Central Bank of Ireland. Notable companies such as Coinbase, Gemini, and Kraken have already undergone this regulatory process, showcasing an increasing trend of crypto entities seeking regulatory clarity and compliance in the evolving financial landscape.
Ripple was awarded a Singapore operational license in October in a sign that it is looking to gain a foothold as a legitimate entity in many global jurisdictions.
