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ARTICLE · 20 MARCH 2025

A Prime Destination For Virtual Asset Service Providers (VASPs)

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Virtual Asset Service Providers (VASPs), as outlined by the Financial Action Task Force (FATF), are entities that engage in virtual asset-related services.

Cayman IslandsTechnology
Andrea Hadjigeorgiou
Andrea Hadjigeorgiou
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Virtual Asset Service Providers (VASPs), as outlined by the Financial Action Task Force (FATF), are entities that engage in virtual asset-related services. Their functions include facilitating conversions between virtual assets and fiat currencies, enabling transactions between different virtual assets, managing or securing virtual assets for clients, supporting the issuance or distribution of virtual assets, and offering financial services for token offerings.

There is a substantial discussion as to what is considered to be a virtual asset.

A virtual asset means a digital representation of value that can be digitally traded or transferred and can be used for payment or investment purposes but does not include a digital representation of fiat currencies.

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