Virtual asset service provider (non-MiCA)
A virtual asset service provider (VASP) licence or registration is the non-EU equivalent of a crypto authorisation, built on the FATF definition of virtual asset activities. Some regimes issue full licences with capital and conduct rules, Dubai, Singapore and Hong Kong among them. Others only ask for anti-money-laundering registration, which is common across offshore and emerging-market jurisdictions.
Where the VASP licence is available
Comparison by country
| Country | Regulator | Min. capital | Statutory time | Passport |
|---|---|---|---|---|
| Abu Dhabi Global Market (ADGM) | FSRA | USD 250,000 | n/a | Domestic |
| Australia | AUSTRAC | n/a | n/a | Domestic |
| Bermuda | BMA | n/a | n/a | Domestic |
| Bermuda | BMA | n/a | n/a | Domestic |
| Bermuda | BMA | n/a | n/a | Domestic |
| British Virgin Islands | BVI FSC | n/a | n/a | Domestic |
| Cayman Islands | CIMA | n/a | n/a | Domestic |
| Cayman Islands | CIMA | n/a | n/a | Domestic |
| Dubai (VARA) | VARA | AED 100,000 | n/a | Domestic |
| Dubai (VARA) | VARA | AED 600,000 | n/a | Domestic |
| Dubai (VARA) | VARA | AED 600,000 | n/a | Domestic |
| Dubai (VARA) | VARA | AED 1,500,000 | n/a | Domestic |
| Dubai (VARA) | VARA | AED 500,000 | n/a | Domestic |
| Dubai (VARA) | VARA | AED 500,000 | n/a | Domestic |
| Dubai (VARA) | VARA | AED 500,000 | n/a | Domestic |
| Dubai International Financial Centre (DIFC) | DFSA | USD 1,000,000 | n/a | Domestic |
| El Salvador | CNAD | USD 2,000 | 0.9 mo | Domestic |
| Germany | BaFin | n/a | n/a | Domestic |
| Ireland | CBI | n/a | n/a | Domestic |
| Mauritius | FSC | n/a | n/a | Domestic |
| Mauritius | FSC | n/a | n/a | Domestic |
| Mauritius | FSC | n/a | n/a | Domestic |
| Mauritius | FSC | n/a | n/a | Domestic |
| Mauritius | FSC | n/a | n/a | Domestic |
| Seychelles | FSA | n/a | n/a | Domestic |
| South Africa | FSCA | n/a | n/a | Domestic |
| Switzerland | FINMA | CHF 10,000,000 | n/a | Domestic |
| United Kingdom | FCA | n/a | 3 mo | Domestic |
Values come from each country's page, where every figure has its source.
Activities this family typically covers
- Custody and administration of crypto-assets
- Operating a crypto-asset trading platform
- Exchange of crypto-assets for funds
- Exchange of crypto-assets for other crypto-assets
- Execution of orders for crypto-assets on behalf of clients
- Transfer services for crypto-assets
- Virtual asset exchange (FATF)
- Virtual asset transfer (FATF)
- Virtual asset safekeeping (FATF)
- Services related to token offerings (FATF)
All licences in this family
- VASP · Abu Dhabi Global Market (ADGM)
VASP licence
Financial Services Permission with Virtual Asset Activities EndorsementFSRA · capital USD 250,000
- VASP · Australia
VASP licence
Registration as a virtual asset service provider (VASP) on the AUSTRAC Virtual Asset Service Provider Register (formerly the Digital Currency Exchange Register)AUSTRAC
- VASP · Bermuda
Digital Asset Business Class F (Full) Licence
BMA
- VASP · Bermuda
Digital Asset Business Class M (Modified) Licence
BMA
- VASP · Bermuda
Digital Asset Business Class T (Test) Licence
BMA
- VASP · British Virgin Islands
Virtual Assets Service Provider Registration
BVI FSC
- VASP · Cayman Islands
Virtual Asset Service Provider Licence
CIMA
- VASP · Cayman Islands
Virtual Asset Service Provider Registration
CIMA
- VASP · Dubai (VARA)
Virtual Asset Advisory Services Licence
VARA · capital AED 100,000
- VASP · Dubai (VARA)
Virtual Asset Broker-Dealer Services Licence
VARA · capital AED 600,000
- VASP · Dubai (VARA)
Virtual Asset Custody Services Licence
VARA · capital AED 600,000
- VASP · Dubai (VARA)
Virtual Asset Exchange Services Licence
VARA · capital AED 1,500,000
- VASP · Dubai (VARA)
Virtual Asset Lending and Borrowing Services Licence
VARA · capital AED 500,000
- VASP · Dubai (VARA)
Virtual Asset Management and Investment Services Licence
VARA · capital AED 500,000
- VASP · Dubai (VARA)
Virtual Asset Transfer and Settlement Services Licence
VARA · capital AED 500,000
- VASP · Dubai International Financial Centre (DIFC)
Financial Services Permission with Crypto Token Activities Endorsement
DFSA · capital USD 1,000,000
- VASP · El Salvador
Proveedor de Servicios de Activos Digitales (PSAD) registration
CNAD · capital USD 2,000
- VASP · Germany
Qualified crypto custody licence
BaFin
- VASP · Ireland
Virtual Asset Service Provider AML/CFT Registration
CBI
- VASP · Mauritius
Virtual Asset Advisory Services (Class I)
FSC
- VASP · Mauritius
Virtual Asset Broker-Dealer (Class M)
FSC
- VASP · Mauritius
Virtual Asset Wallet Services (Class O)
FSC
- VASP · Mauritius
Virtual Asset Custodian (Class R)
FSC
- VASP · Mauritius
Virtual Asset Market Place (Class S)
FSC
- VASP · Seychelles
Virtual Asset Service Provider Licence / Registration
Virtual Asset Service Provider Licence / Registration (Wallet Provider, Exchange, Broking, Investment Provider) under the Virtual Asset Service Providers Act 2024FSA
- VASP · South Africa
Crypto Asset Service Provider licence
Crypto Asset Service Provider licence (an FSP authorisation category under FAIS, not a MiCA-equivalent regime)FSCA
- VASP · Switzerland
Financial intermediary / VASP SRO affiliation
FINMA · capital CHF 10,000,000
- VASP · United Kingdom
Cryptoasset Business Registration (MLRs 2017)
FCA
Sources
- FATF Glossary: virtual asset service provider · retrieved 2026-09-24
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