In this episode of the Blockchain Leaders Insights series, Paul Hearns sits down with Louise McNabola, a partner in the Financial Regulation Unit at William Fry, to explore the fast-changing world of financial and crypto regulation. As the European Union introduces the Markets in Crypto-Assets Regulation (MiCAR), businesses are facing a new set of challenges—and opportunities—when it comes to securing authorisation to operate in the EU. Louise shares her invaluable expertise on navigating this evolving landscape, focusing on the transition from Virtual Asset Service Provider (VASP) registration to Crypto-Asset Service Provider (CASP) authorisation.

Louise walks us through why Ireland has become a leading destination for authorisation, thanks to its robust regulatory framework, skilled talent pool, and reputation for credibility. She explains how firms can leverage Ireland’s strengths while preparing for the rigorous demands of the Central Bank of Ireland. From early engagement with the regulator to building a strong governance structure, Louise provides clear, actionable steps to help businesses succeed.

We delve into the common pitfalls firms encounter, such as rushing the application process or making changes to business plans midway, and Louise highlights how proper preparation can make all the difference. She also sheds light on the importance of appointing key personnel early on, ensuring that the "hearts and minds" of the business are firmly rooted in Ireland to meet regulatory expectations.

With deadlines approaching and significant changes like the Digital Operational Resilience Act (DORA) on the horizon, this episode offers practical advice for navigating the complexities of the regulatory process while planning for the future. Louise’s insights are invaluable for anyone operating in the crypto space or considering Ireland as their base for EU operations.

Whether you’re a seasoned player in the blockchain industry or just starting out, this episode is your go-to guide for understanding the Irish authorisation process and the opportunities it unlocks. Tune in to gain clarity, avoid common mistakes, and set your business up for long-term success in the EU’s thriving digital asset landscape.

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Available on the Blockchain Ireland website: https://www.blockchainireland.ie/podcasts/

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Host: Paul Hearns - Co-chair of the Events and Comms Working Group

https://www.linkedin.com/in/lory-kehoe/

Guest: Louise McNabola - Partner, William Fry

https://www.linkedin.com/in/louise-mcnabola-2a10875a/

https://www.williamfry.com/

https://www.linkedin.com/company/william-fry/

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About Blockchain Ireland

Blockchain Ireland is an initiative aimed at promoting and enhancing Ireland's position as a global hub for blockchain technology. It was launched by the Irish Blockchain Expert Group (IBEG), led by IDA Ireland, and includes a collaboration of Irish-based organisations.

The main goals of Blockchain Ireland are to serve as a central source of information on the growing blockchain, crypto and Web3 ecosystem, to support the development of blockchain technology in Ireland, and to create awareness of industry developments both nationally and internationally.

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