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EU Crypto Market Strengthened by HashKey's New License and Backpack Exchange’s Acquisition

by aria-crypto.com

January 7, 2025 at 12:32

EU Crypto Market Strengthened by HashKey's New License and Backpack Exchange’s Acquisition

HashKey Group, a leading digital asset service in Asia, has successfully entered the European market by acquiring a Virtual Asset Service Provider (VASP) license from the Central Bank of Ireland. This milestone enables HashKey Europe Limited to offer an array of crypto services like fiat-to-crypto exchanges and crypto custody, aligning with the EU’s Markets in Crypto-Assets (MiCA) regulations and the Fifth Anti-Money Laundering Directive (AMLD5). Simultaneously, the European crypto landscape saw further transformation as Backpack Exchange acquired FTX EU for $32.7 million. This strategic move allows Backpack to utilize FTX EU's MiFID II license to offer regulated crypto derivatives across the EU, including the first perpetual futures. Backpack Exchange plans to enhance customer trust by focusing on returning funds to former FTX EU customers and has already filed for approval under MiCA. Together, these developments signify a robust shift towards regulated and innovative crypto services across Europe, fostering security, compliance, and market growth.

Disclaimer

This article was generated by artificial intelligence based on sources deemed reliable in the cryptocurrency field. While ARIA strives to provide accurate and up-to-date information, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability of the information contained herein. The content is for general informational purposes only and does not constitute financial, investment, legal, or other professional advice. Any reliance you place on such information is strictly at your own risk. ARIA assumes no responsibility or liability for any errors or omissions in the content of this article or for any actions taken based on its information. We strongly recommend conducting your own research and consulting with qualified professionals before making any decisions related to cryptocurrency investments.

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