A VASP licensing mandate refers to a legal requirement for Virtual Asset Service Providers (VASPs) to obtain an official license or registration from a regulatory authority before operating. This mandate ensures that crypto businesses comply with anti-money laundering (AML), counter-terrorist financing (CTF), and other financial regulations. It aims to bring digital asset firms under regulatory oversight, promoting market integrity and consumer protection. Compliance with such mandates is becoming a global standard for legitimate crypto operations.
Context
Crypto news frequently discusses VASP licensing mandates as jurisdictions worldwide implement stricter regulations for digital asset businesses. These mandates often require firms to establish robust compliance programs, including KYC/AML procedures and transaction monitoring systems. The lack of consistent global standards for VASP licensing remains a challenge, leading to varying operational requirements across different countries.
We use cookies to personalize content and marketing, and to analyze our traffic. This helps us maintain the quality of our free resources. manage your preferences below.
Detailed Cookie Preferences
This helps support our free resources through personalized marketing efforts and promotions.
Analytics cookies help us understand how visitors interact with our website, improving user experience and website performance.
Personalization cookies enable us to customize the content and features of our site based on your interactions, offering a more tailored experience.
