VASP
Virtual Asset Service Provider
Financial Action Task Force (FATF) published first version of Recommendations on International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation back in 2012
In the recommendation, Virtual Asset Service Provider (VASP) is defined 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 or operations for or on behalf of another natural or legal person:
- 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; and
- participation in and provision of financial services related to an issuer’s offer and/or sale of a virtual asset.
Source: FATF Glossary
Updated over 4 years ago