VASP
Technology & Computing abbreviation · Cryptocurrency & Blockchain
| Stands for | Virtual asset service provider |
|---|---|
| Categories | Technology & Computing |
VASP stands for Virtual asset service provider, a cryptocurrency & blockchain abbreviation.
The term used by the Financial Action Task Force and many regulators for businesses that exchange, transfer, hold or issue crypto assets for customers, such as exchanges and custodial wallets, which must follow anti-money-laundering rules.
Example: As a registered VASP, the exchange must share sender details for transfers above the threshold.
Usage notes
FATF extended its standards to virtual assets in 2019, including the "travel rule" requiring originator and beneficiary information to accompany transfers. Countries implement registration or licensing regimes for these firms. The EU's MiCA regulation uses the related term crypto-asset service provider (CASP).
Related abbreviations
More cryptocurrency & blockchain abbreviations
- SPV – Simplified payment verification
- STO – Security token offering
- TVL – Total value locked
- USDC – USD Coin
- USDT – Tether
- UTXO – Unspent transaction output
- WAGMI – We're all gonna make it
- Web3 – Web 3.0 (decentralized web)
- XBT – Bitcoin (ISO-style currency code)
- XMR – Monero
- XRP – XRP
- ZKP – Zero-knowledge proof