# VASP

> Virtual Asset Service Provider. A FATF term for any business that handles crypto on behalf of customers.

Canonical URL: https://fudfomo.co/glossary/vasp
Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co.

## Definition

VASP stands for Virtual Asset Service Provider. It is the official term used by the Financial Action Task Force for any business that exchanges, transfers, holds, or issues crypto on behalf of customers. Exchanges, custodians, and many wallet providers fall into this category.

Most national regulators use the same definition. Being classified as a VASP usually means having to register, run KYC and AML programmes, and follow the Travel Rule.

## Regulatory context

VASP registration regimes vary widely. Some countries require a full licence, others a simple registration, and some prohibit certain VASPs entirely.

## Related terms

- [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade.
- [AML](https://fudfomo.co/glossary/aml): Anti-money laundering. The rules and checks that stop crypto being used to hide the origin of dirty money.
- [Travel Rule](https://fudfomo.co/glossary/travel-rule): A regulation that requires crypto firms to share sender and recipient information when transferring above a threshold.
- [FATF](https://fudfomo.co/glossary/fatf): The Financial Action Task Force. The global standard-setter for anti-money-laundering and counter-terrorist-financing rules.

## See the full catalogue

What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co