What is a VASP (virtual asset service provider)?

A virtual asset service provider (VASP) — the term coined by the Financial Action Task Force (FATF) — is any business that, for or on behalf of customers, does one or more of: exchanging crypto for fiat, exchanging one crypto for another, transferring crypto, safekeeping/custody, or providing financial services around a crypto-asset offering.

Licensing vs registration

On this map the VASP licensing dimension distinguishes:

• Regime in force — a full licensing/authorisation regime operates (e.g. the EU under MiCA, Singapore’s MAS under the Payment Services Act).
• Regime pending — a licensing law is enacted but not yet effective.
• Registration only — providers must register (often for AML purposes) rather than obtain a full licence (e.g. FinCEN MSB registration in the US).
• No regime — no specific VASP framework.

Why it matters: if you run or use a crypto exchange, the licensing status tells you whether the provider is supervised. Compare regimes across Singapore, the United States and Japan, or rank every country by VASP licensing.

Data basis: VASP/CASP licensing status on this map is recorded per country from the relevant financial regulator or AML authority.