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ARTICLE · 12 NOVEMBER 2024

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Central Bank Formally Appointed As National Competent Authority Under MiCAR

William Fry LLP
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On 8 November 2024, the Irish Minister for Finance, Jack Chambers, signed a statutory instrument designating the Central Bank of Ireland (Central Bank) as the National Competent Authority...

IrelandTechnology
Shane Kelleher
Shane Kelleher
Louise McNabola
Louise McNabola
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On 8 November 2024, the Irish Minister for Finance, Jack Chambers, signed a statutory instrument designating the Central Bank of Ireland (Central Bank) as the National Competent Authority (NCA) under the Markets in Crypto Assets Regulation (MiCAR).

The Central Bank is responsible for granting regulatory authorisations to Crypto-Asset Service Provider (CASP) applicants and supervising authorised entities under MiCAR in Ireland.

Statutory Instrument No 607 of 2024, European Union (Markets in Crypto-Assets) Regulations 2024:

  • Designates the Central Bank as the National Competent Authority.
  • Outlines the administrative penalties and measures for Regulated and non-Regulated Financial Service Providers.

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