Is Crypto Legal in Ireland?

CBI — CASP authorization, VASP registration, AML supervision. Coinbase and Gemini chose Ireland as EU base.

No "top 20" ranking exists in sources; lists are unranked. https://thebanks.eu/list-of-vasps/Ireland

For complete/current data, use the Firm Search with VASP/AML filters.

A third-party PDF reports 22 VASPs as of Q4 2024 but lacks extractable details here.[web:3 from DuckDuckGo]

Central Bank of Ireland International Financial Sanctions: https://www.centralbank.ie/regulation/how-we-regulate/international-financial-sanctions

Ireland Global Sanctions Guide: https://ezine.eversheds-sutherland.com/global-sanctions-guide/ireland

OFAC Virtual Currency FAQs: https://ofac.treasury.gov/faqs/topic/1626

EU Crypto Regulation and Ireland Compliance: https://www.binance.com/en/square/post/14988785377977

Central Bank of Ireland Crypto Regulations 2026: https://www.lightspark.com/knowledge/is-crypto-legal-in-ireland

Ireland Global Sanctions Guide: https://ezine.eversheds-sutherland.com/global-sanctions-guide/ireland

OFAC Virtual Currency FAQs: https://ofac.treasury.gov/faqs/topic/1626

Central Bank of Ireland (CBI): Regulates financial services, including crypto assets under MiCA.

National Crime Agency (NCA): Oversees AML/CFT measures related to crypto activities.

Website: Central Bank of Ireland

MiCA Regulation (Directive 2022/1530): Establishes a comprehensive regulatory framework for crypto assets across the EU, including Ireland. Effective from July 2024.

Financial Services and Markets Act 2019: Provides the legal basis for CBI's oversight of financial activities, including crypto-related services.

Ireland is aligned with FATF (Financial Action Task Force) recommendations, adopting similar AML/CFT standards for crypto assets. Source

Custody and settlement of crypto assets.

Provision of exchange services for regulated crypto-assets.

Minimum Capital: EUR 50,000 to EUR 150,000, depending on the specific service provided. Source

Submit a detailed application to the CBI.

Undergo a risk assessment by the NCA for AML/CFT compliance.

Expected processing time: 3–6 months.

Customer Due Diligence (CDD/KYC): VASPs must conduct CDD, including identifying customers, verifying identities, understanding transaction purposes, and assessing risks, as outlined in Part 4 of the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010 to 2021. This involves stricter KYC obligations like user identity verification and real-time monitoring, with no anonymous crypto transactions allowed.

Suspicious Transaction Reporting: VASPs must monitor transactions for suspicious activity related to money laundering or terrorist financing and report to the relevant authorities, with enhanced mechanisms under WCTR empowering financial intelligence units to suspend suspicious crypto transfers.

Record-Keeping Obligations: VASPs must maintain records of transactions, CDD, and monitoring to demonstrate compliance with AML/CFT rules.

Industrial Development Authority (IDA): Attracts investment and leads Blockchain Ireland initiative.

European Securities and Markets Authority (ESMA): Develops standards/guidelines for consistent EU application and consumer warnings.

European Banking Authority (EBA): Sets standards for stablecoins and AML risk management.

Customer Due Diligence (CDD): Identity verification, risk assessment based on customer profile.

Enhanced Due Diligence (EDD): Additional scrutiny for high-risk customers or transactions.

Suspicious Transaction Reporting (STR): Mandatory reporting of suspicious activities to the NCA within 5 days. Source