Ireland

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CASP companies have the authorization to provide exchange services between various forms of virtual assets (utility tokens, NFTs, and coins).

A crypto license in Ireland allows its holder to provide services for exchanging crypto for fiat currency and vice versa, which means their customers can buy or sell available utility tokens in exchange for currencies such as the US dollar or euro.

The CASP license also allows its operator to store crypto assets on behalf of its clients in custodian wallets, which means that the operator may open a wallet for a customer while keeping the private keys.

Despite the fact that custody of fiat funds is not permitted under the CASP license in Ireland. The operator can keep the prepayment as a counter-obligation for an infinite period of time, but it must eventually be converted to cryptocurrency.

Crypto Assets Service Providers may organize ICOs, in which an offer to buy the CASP's cryptocurrency is issued for the first time. It is vital to note that during an ICO, the CASP company may only issue utility tokens.

CASPs have an option to apply stacking as a secondary technique for generating passive revenue from cryptocurrencies. Many blockchains employ proof-of-stake and related consensus techniques. This is a profitable alternative to traditional crypto keeping and is equivalent to crypto bank deposits. 

Authorized CASP has the authority to administer and preserve client cryptocurrency depository wallets, as well as store and provide clients with balance and incoming and outgoing transaction information.

CASP could provide services as an intermediary to move digital currencies from the client's wallet to a wallet designated by the client in their order. This service is a cryptocurrency alternative to fiat money wire transactions.