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What is a VASP?

A VASP is considered any person, providing, on behalf of or for its customer, one or more of the following services:

01.

exchange between virtual assets and fiat currencies, including the exchange between virtual currencies and fiat currencies;

02.

exchange between one or more forms of virtual assets;

03.

transfer of virtual assets;

04.

safekeeping and/or administration of virtual assets or instruments enabling control over virtual assets, including custodian wallet services;

05.

participation in and provision of financial services related to an issuer’s offer and/or sale of virtual assets.

VASP vs CASP differences

VASP

Virtual Assets Service Provider

Exchange between VA and fiat currencies
Exchange between one or more forms of VA
Transfer of Virtual assets
Safekeeping or administration of Virtual assets
Participation in and provision of financial services related to an issuer’s offer or sale of a Virtual asset

CASP

Crypto-Assets Service Provider

Custody and administration of CA on behalf of third parties
Operation of a trading platform for CA
Exchange of crypto-assets for funds
Exchange among crypto-assets
Execution of orders for crypto-assets on behalf of third parties
Placing of crypto-assets
Transfer services for CA on behalf of third parties
Reception/transmission of orders for CA on behalf of third parties
Advice on crypto-assets
Portfolio management on crypto-assets

When examining the services provided by VASPs and CASPs they seem to present number of differences:

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