GlossaryAdvanced
Virtual Asset Service Provider
A regulatory classification for businesses that provide crypto-related financial services.
A Virtual Asset Service Provider (VASP) is a regulatory classification, used across many jurisdictions' anti-money-laundering frameworks, for businesses that provide services such as exchanging, transferring, or safekeeping crypto assets on behalf of customers.
Being classified as a VASP generally brings specific compliance obligations, such as KYC/AML requirements and Travel Rule participation.
Examples
- A centralized exchange is commonly classified as a VASP in jurisdictions that use this framework.
- VASP classification generally brings specific KYC/AML and Travel Rule obligations.