VASP obligations refer to the regulatory duties imposed on Virtual Asset Service Providers, such as cryptocurrency exchanges and custodians. These obligations typically include Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance, transaction monitoring, and reporting suspicious activities. Adherence to these requirements aims to mitigate financial crime risks within the digital asset sector. Non-compliance can result in significant penalties.
Context
The landscape of VASP obligations is continually evolving as global regulatory bodies work to establish comprehensive frameworks for digital assets. A key debate involves the scope of these obligations and their applicability to various decentralized protocols and emerging virtual asset services. Critical future developments include the international harmonization of VASP regulations and the development of technological solutions to aid compliance in a decentralized environment.
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.
