A Crypto Asset Service Provider (CASP) is an entity offering various services related to digital assets to third parties. These services typically include exchanging crypto assets for fiat currency or other digital assets, operating trading platforms, or providing custodial wallet solutions. CASPs function as central intermediaries within the digital asset ecosystem, facilitating access and management for users. Their operations often involve handling substantial value and sensitive user data.
Context
The regulatory landscape for CASPs is rapidly evolving, with jurisdictions worldwide implementing licensing regimes and compliance obligations. A significant debate concerns the precise scope of CASP regulation, especially regarding decentralized autonomous organizations and peer-to-peer services. Upcoming legislative actions, such as the European Union’s MiCA regulation, aim to standardize requirements for these entities, impacting their global operational strategies and market access.
MiCAR's implementation prompts strategic licensing applications, establishing a harmonized compliance pathway for crypto asset service providers across the EEA.
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