Cryptocurrency is legal in Ireland and operates under the European Union's Markets in Crypto-Assets Regulation implemented by the Central Bank of Ireland as the designated National Competent Authority. MiCAR became applicable to issuers of Asset-Referenced Tokens and E-Money Tokens on June 30, 2024, and to Crypto-Asset Service Providers on December 30, 2024. The regulation establishes a comprehensive framework for crypto-asset activities including issuance, custody and administration, and operation of trading platforms and exchanges (1).
The Markets in Crypto-Assets Regulation represents the first European-level legislation introducing a harmonized and comprehensive framework for crypto-assets. The legislation provides prescriptive rules shaping the functioning of European crypto-asset markets including transparency rules, authorisation requirements, customer protection rules and an anti-market abuse framework. Ireland's Department of Finance conducted public consultations on exercising national discretions contained within MiCAR to allow stakeholders to submit views on how Ireland should implement specific provisions (2).
"The Markets in Crypto-Assets Regulation is the first European-level legislation introducing a harmonised and comprehensive framework for crypto-assets covering issues from the offering to the public of crypto-assets to preventing market abuse."
Crypto-Asset Service Providers require authorisation from the Central Bank to operate within Ireland covering services such as custody, trading platform operation, exchange services, order execution, portfolio management and transfer services. Under transitional provisions in Regulation 607 of 2024, existing Virtual Asset Service Providers have until December 29, 2025 to obtain full CASP authorisation. The Central Bank emphasizes robust compliance with anti-money laundering measures, prudential requirements and conduct standards for all authorised crypto-asset entities (1).
Source:
https://www.centralbank.ie/regulation/markets-in-crypto-assets-regulation
https://gov.ie/en/department-of-finance/consultations/markets-in-crypto-assets-regulation-eu-20231114-public-consultation-on-the-exercise-of-national-discretions/
Last updated: 18-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
