VASP
A virtual asset service provider (VASP) is the FATF's term for a business that, for or on behalf of others, exchanges virtual assets for fiat or for each other, transfers them, keeps them in custody, or provides financial services for an issuer's offer or sale of a virtual asset. Laws use their own names: MiCA defines a 'crypto-asset service provider', Brazil's central bank regulates 'prestadoras de serviços de ativos virtuais', and Argentina regulates PSAVs. The FATF reports offshore VASPs remain a significant challenge.
What the sources say
| Source | Quote | Link |
|---|---|---|
| FATF Glossary: virtual asset service provider | "Virtual asset service provider means 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: i. exchange between virtual assets and fiat currencies; ii. exchange between one or more forms of virtual assets; iii. transfer[1] of virtual assets; iv. safekeeping and/or administration of virtual assets or instruments enabling control over virtual assets; and v. participation in and provision of financial services related to an issuer’s offer and/or sale of a virtual asset." | fatf-gafi.org |
| MiCA Art 3(1)(15): crypto-asset service provider | "‘crypto-asset service provider’ means a legal person or other undertaking whose occupation or business is the provision of one or more crypto-asset services to clients on a professional basis, and that is allowed to provide crypto-asset services in accordance with Article 59" | publications.europa.eu |
| BCB Resolution 520: term used | "prestadora de serviços de ativos virtuais" | bcb.gov.br |
| Argentina (argentina.gob.ar): PSAV regulation news | "Proveedores de Servicios de Activos Virtuales (PSAV)" | argentina.gob.ar |
| FATF Targeted Update 2026 (copy hosted by FIAU Malta): offshore VASPs | "Offshore VASPs also remain a significant challenge" | fiaumalta.org |
Where the sources differ
The sources differ in scope. The FATF definition of a VASP includes natural persons. MiCA's crypto-asset service provider (CASP) is a legal person or other undertaking and must be authorised under Article 59.
Related terms
See also
- Review: revain.org/exchanges/kraken/
- Review: revain.org/exchanges/binance/
- Review: revain.org/exchanges/luno/
Checked against the sources on 2026-11-01.
revain.org
Sources
- https://www.fatf-gafi.org/en/pages/fatf-glossary.html
- https://publications.europa.eu/resource/cellar/01d55833-0660-11ee-b12e-01aa75ed71a1.0006.03/DOC_1
- https://www.bcb.gov.br/estabilidadefinanceira/exibenormativo?tipo=Resolu%C3%A7%C3%A3o%20BCB&numero=520
- https://www.argentina.gob.ar/noticias/regulacion-de-los-proveedores-de-servicios-de-activos-virtuales-psav
- https://fiaumalta.org/app/uploads/2026/07/7th-targeted-update-on-implementation-fatf-standards-vas-vasps-2026.pdf.coredownload.pdf