Confirmo, the Czech crypto asset payment processor, has become the latest digital asset company to register with the Central Bank of Ireland under the European Union’s regulatory framework for the crypto industry.
The company has received approval from the Irish regulator to act as a crypto asset service provider (CASP), meaning it can now passport its services to other EU countries.
In a statement, Confirmo said it is one of the first European companies to receive CASP authorisation.
It means the Central Bank, which it said is “recognised across the European Union for its supervisory standards, technical diligence, and strong emphasis on consumer protection and financial stability”, is now the company’s competent regulatory authority in Europe.
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“For more than a decade, we have operated across Europe at a time when crypto regulations were often inconsistent, ambiguous, or incomplete,” said Anna Strebl, chief executive of Confirmo Group.
However, she said the EU’s Markets in Crypto Assets (MiCA) framework “now provides the clarity needed for companies like Confirmo to scale responsible.
Ms Strebl said: “This authorisation allows us to expand our services in the EU with greater reach, confidence, and impact for our customers.”
Several companies in the digital assets industry have registered with the Central Bank under MiCA this year, including Kraken, the world’s third-largest crypto exchange by daily trading volume.
The company had previously received clearance from the regulator under its virtual asset service provider regime, meaning the Central Bank was satisfied that Kraken’s Irish subsidiary had effective policies and controls in place to meet its anti-money laundering and criminal financing obligations under Irish and European law.
Separately this year, the Central Bank fined crypto exchange giant Coinbase €21.5 million after finding it failed to properly monitor more than 30 million transactions for money laundering or terrorist financing over the course of a year.
Earlier in the year, the company confirmed that it was leaving Ireland to establish its European headquarters in Luxembourg after receiving its MiCA licence from the country’s financial regulator.
