What is a VASP

From Bittylicious
Revision as of 17:44, 27 October 2024 by Nicguana (talk | contribs) (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...")
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to navigation Jump to search

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.

Retrieved from ‘https://help.bittylicious.com/index.php?title=What_is_a_VASP&oldid=1095’