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VASP Registration

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VASP Registration and Licensing

A Virtual Asset Service Provider (VASP) is any natural or legal person that, as a business, conducts one or more of the following activities for or on behalf of another person: exchange between virtual assets and fiat currencies, exchange between one or more forms of virtual assets, transfer of virtual assets, safekeeping or administration of virtual assets, and participation in or provision of financial services related to the issuance or sale of a virtual asset. Under FATF Recommendation 15 and national implementing legislation, all VASPs must register with or obtain a licence from their relevant financial regulator.

VASP obligations include implementing a comprehensive AML and counter-terrorist financing programme, conducting customer due diligence on clients, complying with the FATF Travel Rule requiring originator and beneficiary information to accompany virtual asset transfers above threshold amounts, and filing suspicious activity reports with the relevant financial intelligence unit. Key VASP licensing jurisdictions with established frameworks include Lithuania, Estonia, Poland, Malta, Gibraltar, the Cayman Islands, and Bermuda. Neptune Fiduciaries Group advises on VASP registration requirements in each jurisdiction and manages the full application and approval process.

FATF VASP Definition and Scope

We advise on whether your activities fall within the FATF VASP definition and therefore trigger registration or licensing obligations in each relevant jurisdiction, and on structuring options that may affect the scope of applicable requirements.

Jurisdiction Selection for VASP Licence

We advise on the optimal VASP licensing jurisdiction based on your business model, target markets, timeline, and cost constraints, comparing frameworks in Lithuania, Estonia, Malta, Gibraltar, Cayman Islands, Bermuda, and other VASP-friendly jurisdictions.

AML and CFT Programme Requirements

We assist in designing and implementing the AML and counter-terrorist financing programme required for VASP registration, including risk assessment, KYC procedures, transaction monitoring, PEP and sanctions screening, and suspicious activity reporting protocols.

Travel Rule Compliance for Transfers

The FATF Travel Rule requires VASPs to collect and transmit originator and beneficiary information with virtual asset transfers above threshold amounts. We advise on technology solutions and compliance programmes for Travel Rule compliance.

Get in Touch

Contact Neptune Fiduciaries Group via info@neptunecorporate.com or visit our Contact Us page.

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