A VASP Bill is proposed or enacted legislation specifically targeting Virtual Asset Service Providers. These bills aim to regulate entities that facilitate activities involving digital assets, such as exchanges, custodians, and transfer services. The legislation typically establishes licensing requirements, anti-money laundering obligations, and consumer protection measures.
Context
VASP Bills are a frequent subject in global regulatory news as governments seek to bring digital asset markets under formal oversight. The implementation of such legislation directly impacts the operational requirements and legal responsibilities of cryptocurrency businesses. The ongoing development of VASP frameworks reflects a global effort to standardize digital asset regulation and mitigate financial risks.
Kenya's VASP Bill operationalizes global AML standards, requiring all digital asset service providers to secure annual licenses and establish local physical presence.
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