What is a VASP: Difference between revisions
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Created page with "A Virtual Activity Service Provider ("VASP") is a business which: * issues; * transmits; * transfers; * provides safe custody or storage of; * administers; * manages; * lends; * buys; * sells; * exchanges, or otherwise trades; or * intermediates convertible virtual currencies, including crypto-currencies, virtual assets or similar concepts, where the concept is accepted by persons as: * a means of payment of goods or services; * a unit of account; or * a store of va..." |
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Latest revision as of 17:44, 27 October 2024
A Virtual Activity Service Provider ("VASP") is a business which:
- issues;
- transmits;
- transfers;
- provides safe custody or storage of;
- administers;
- manages;
- lends;
- buys;
- sells;
- exchanges, or otherwise trades; or
- intermediates
convertible virtual currencies, including crypto-currencies, virtual assets or similar concepts, where the concept is accepted by persons as:
- a means of payment of goods or services;
- a unit of account; or
- a store of value or a commodity.
Please note that a VASP is sometimes also referred to as Convertible Virtual Currency ("CVC") business. The definition above applies both to VASPs and CVC businesses equally.