Written by Javier Yáñez López
Legal & Regulatory at Metlabs · Reviewed on October 11, 2026
FATF uses VASP in Recommendation 15 and its interpretive note to identify activities subject to anti-money-laundering and counter-terrorist-financing controls. The definition is functional: the activity matters more than the business name. FATF sets standards implemented through domestic law; it does not issue licenses.
VASP and CASP are not exact legal equivalents. CASP is the EU MiCA category, with its own list of services and authorization or entitlement routes. VASP is used internationally and its scope depends on local rules.
In Spain, historical registration with the Bank of Spain for certain providers addressed anti-money-laundering requirements. It was neither MiCA authorization nor an EU passport. The Travel Rule requires originator and beneficiary information, with specific rules depending on the jurisdiction and transfer type.
Sources
Also known as
- Virtual Asset Service Provider
