Definition ∞ VASP reporting refers to the regulatory obligations placed on Virtual Asset Service Providers to submit information about their transactions and customers to relevant authorities. This compliance requirement is primarily aimed at combating money laundering and terrorist financing activities within the digital asset sector. It involves collecting and reporting data on transactions exceeding certain thresholds and identifying suspicious activities. VASPs must adhere to international standards and local regulations.
Context ∞ VASP reporting is a major subject in cryptocurrency news, particularly concerning regulatory developments and the increasing scrutiny on digital asset businesses globally. Discussions often center on the implementation of the Financial Action Task Force’s Travel Rule and its impact on privacy and operational complexity for VASPs. The relevance to digital economics includes the ongoing efforts to integrate the crypto industry into traditional financial regulatory frameworks.
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