Virtual Asset Service Provider (VASP)

The FATF defines a VASP as “any natural or legal person who is not covered elsewhere under the Recommendations, and as a business conducts one or more of the following activities (stated below) or operations for or on behalf of another natural or legal person.”

Per the FATF, VASP activities include:

• Exchange between virtual assets and fiat currencies,

• Exchange between one or more forms of virtual assets,

• Transfer of virtual assets,

• Safekeeping and/or administration of virtual assets or instruments enabling control over virtual assets,

• Participation in and provision of financial services related to an issuer's offer and/or sale of a virtual asset.

Jurisdiction-dependent, a VASP can also be known as 

• Australia: Digital Currency Exchange Provider (DCEP)

• Canada: Crypto Asset Trading Platform (CTP)

• Estonia: Virtual Currency Service Provider (VCSP)

• EU: Crypto asset service provider (CASP)

• France: Digital Asset Service Provider (DASP)

• Japan: Crypto Asset Exchange Service Provider (CESP)

• Liechtenstein: Trusted Technology Service Provider (TT Service Provider)

• Singapore: Digital Payment Token Providers (DPT Providers)

• UK: Cryptoasset Business (CB)

• USA: Money Service Business (MSB)

Learn more about the meaning of VASP, read A Clear and Concise Guide to Virtual Asset Service Providers