Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 28 NOVEMBER 2024

Market Intelligence Thought Leadership Award Winner

Central Bank Of Ireland Publishes KFD For CASPs

William Fry LLP
William Fry LLP
Contributor
William Fry LLP

William Fry LLP

William Fry advises leading Irish and international companies, covering both the public and private...

View firm profile
Explore more from William Fry LLP

On 25 November 2024, the Central Bank of Ireland (Central Bank) published its template Key Facts Document (KFD) and guidance for firms seeking authorisation as crypto-asset service provider (CASP)...

IrelandTechnology
Shane Kelleher
Shane Kelleher
Louise McNabola
Louise McNabola
Author LinkedIn connections

On 25 November 2024, the Central Bank of Ireland (Central Bank) published its template Key Facts Document (KFD) and guidance for firms seeking authorisation as crypto-asset service provider (CASP) under MiCAR in Ireland.

The publication of the KFD follows the Central Bank's appointment as the Irish national competent authority under MiCAR on 8 November 2024. For further details please see here.

As previously flagged by the Central Bank, the CASP KFD supports a thorough assessment in the pre-application stage. It also requires a greater level of detail than would typically be expected in a KFD for some other types of regulated financial services provider authorisations.

The Central Bank underscores that the ability of CASPs to engage in robust discussions on their proposal in the initial stage of the authorisation application will have a critical impact on the authorisation timelines.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

EU Commission Publishes Cybersecurity And AI Action Plan

The European Commission has published an Action Plan addressing the dual-edged nature of frontier artificial intelligence models in cybersecurity, outlining how the EU will harness AI's defensive capabilities while protecting against AI-powered cyber threats. Through nine key actions spanning 2026-2027, the plan establishes frameworks for safe AI evaluation, structured access to advanced AI capabilities, and the scaling of European sovereign AI cybersecurity solutions across critical infrastructure sectors.
European UnionTechnology
Matheson
Matheson
Article

Time Running Out As AI Transparency Guidelines Published

The European Commission has published comprehensive guidelines on AI transparency obligations under Article 50 of the EU AI Act, with enforcement beginning August 2, 2026. These guidelines establish how organizations must disclose AI systems, mark synthetic content, label deepfakes, and demonstrate compliance, with significant penalties for non-compliance reaching up to €15 million or 3% of global turnover.
IrelandTechnology
William Fry LLP
William Fry LLP
Article

Ireland's Domestic AI Legislation Comes Into Force

Ireland has established the AI Office as its central coordinating authority under the EU AI Act, introducing a comprehensive regulatory framework that includes sector-based supervision, enforcement powers, and administrative fines reaching up to €35 million. The new legislation empowers market surveillance authorities like the Central Bank and Data Protection Commission to oversee AI compliance while creating a regulatory sandbox to foster innovation within legal boundaries.
IrelandTechnology
Arthur Cox
Arthur Cox
Article

Irish Government Publishes The Regulation Of Artificial Intelligence Bill 2026

The Irish Government has published the Regulation of Artificial Intelligence Bill 2026, establishing Ireland's framework for implementing the EU AI Act. This landmark legislation creates the AI Office of Ireland as an independent statutory entity and designates existing sectoral authorities to oversee AI regulation within their domains. The Bill introduces a comprehensive administrative sanctions regime and enforcement toolkit while reflecting Ireland's National Digital and AI Strategy.
IrelandTechnology
Matheson
Matheson
Article

CJEU Clarifies The Limits Of The Hosting Safe Harbour For Online Platforms

The Court of Justice of the European Union has delivered landmark judgments that fundamentally reshape how online platforms can claim immunity from liability for user-generated content. These decisions establish that algorithmic content distribution and commercial partnerships with creators may strip platforms of their safe harbour protections, forcing a reassessment of how social media companies, video-sharing services, and digital marketplaces structure their operations and revenue models.
IrelandTechnology
Matheson
Matheson
Article

Cyber Resilience Act: New Vulnerability Reporting Requirements Now In Force

The EU Cyber Resilience Act introduces mandatory reporting obligations for manufacturers of digital products, requiring them to notify authorities within 24 hours of discovering actively exploited vulnerabilities or severe security incidents. This regulation establishes strict timelines for early warnings, detailed vulnerability notifications, and final reports, fundamentally changing how manufacturers must respond to cybersecurity threats.
IrelandTechnology
Browne Jacobson LLP
Browne Jacobson LLP
Article

Government Legislative Priorities For Autumn 2026

The Government has published its Autumn 2026 Legislation Programme, identifying 32 bills for priority publication and 32 bills for priority drafting. This article explores a selection of measures likely to be of interest to businesses, spanning digital economy, strategic infrastructure, litigation reform, financial regulation, competition law, corporate structures, employment, pensions, and healthcare sectors.
IrelandGovernment, Public Sector
William Fry LLP
William Fry LLP
Article

Ireland’s Data Centre Connections: Back Online

Ireland has lifted its data centre connection moratorium and introduced a demanding new framework requiring developers to provide their own generation capacity, source 80% of electricity from new Irish renewables within six years, and meet strict grid stability requirements. The policy creates significant opportunities for developers who can navigate the complex intersection of grid connection, planning permission, and renewable energy procurement, though a pending legal challenge adds uncertainty to the la
IrelandEnergy and Natural Resources
William Fry LLP
William Fry LLP
Article

Time Running Out As AI Transparency Guidelines Published

The European Commission has published comprehensive guidelines on AI transparency obligations under Article 50 of the EU AI Act, with enforcement beginning August 2, 2026. These guidelines establish how organizations must disclose AI systems, mark synthetic content, label deepfakes, and demonstrate compliance, with significant penalties for non-compliance reaching up to €15 million or 3% of global turnover.
IrelandTechnology
William Fry LLP
William Fry LLP
Article

CBI Consults On Third-Party Risk

The Central Bank of Ireland has published a consultation paper proposing new guidance on managing third-party risks that extends beyond traditional outsourcing to encompass partnerships, joint ventures, and fintech collaborations. The proposed framework aligns with recent European Banking Authority guidelines and DORA, introducing a lifecycle-based approach with enhanced contractual provisions and broader scope than the 2021 guidance it will replace. Financial entities now face the challenge of identifying
IrelandFinance and Banking
William Fry LLP
William Fry LLP
Article

Data For Sale: Can Insolvent Companies Realise The Value Of Corporate Data?

Spirit Airlines' proposed $10 million sale of a massive de-identified corporate dataset to Google in its Chapter 11 bankruptcy proceedings raises fundamental questions about whether operational business data can be treated as a realisable asset in insolvency. The transaction highlights the legal tension between preserving a dataset's commercial utility and ensuring individuals cannot be identified, particularly when the data maintains referential integrity across multiple systems.
IrelandInsolvency/Bankruptcy/Re-Structuring
William Fry LLP
William Fry LLP