Tag Archives: VASP

Content related to the Virtual Asset Service Provider (VASP) system, regulatory boundaries, and licensing pathways.

Hong Kong's SFC and AFRC signed a new memorandum of understanding to extend financial reporting regulation to licensed virtual asset service providers.
Hong Kong's SFC and AFRC signed a new memorandum of understanding to extend financial reporting regulation to licensed virtual asset service providers.

On September 28, 2026, the Hong Kong Securities and Futures Commission (SFC) and the Accounting and Financial Reporting Council (AFRC) signed a new Memorandum of Understanding (MOU) to extend cooperation in financial reporting, auditing, and compliance oversight to SFC-licensed virtual asset servicers, licensed corporations, accredited funds, and registered OFCs. The new framework establishes an information-sharing and coordinated inspection mechanism, replacing the 2021 MOU and aligning with the direction of Hong Kong's expanded digital asset regulation.

28
June
Research on Market Making Regulation for Digital Assets in South Korea: The Financial Services Commission (FSC) Plans to Introduce Market Making Rules to Improve Liquidity
Research on Market Making Regulation for Digital Assets in South Korea: The Financial Services Commission (FSC) Plans to Introduce Market Making Rules to Improve Liquidity

Yoo Young-jun, Director of the Digital Finance Policy Bureau at the South Korean Financial Services Authority (FSC), stated on September 28, 2026, that regulators will study the introduction of a market-making system for digital asset markets to improve market efficiency and stability. This statement stems from the listing of the JPYC stablecoin on Upbit.

28
June
The MiCA transition period for Polish VASP licenses has ended, leaving over 2,000 registered entities in a regulatory vacuum.
The MiCA transition period for Polish VASP licenses has ended, leaving over 2,000 registered entities in a regulatory vacuum.

The EU MiCA transition period ends on July 1, 2026. Poland, due to its president's third veto of the implementation bill and the failure to designate the KNF as the competent authority, becomes the only EU country without an operational MiCA (CASP) licensing system. Approximately 2,000 former VASP registered bodies lose their legal operating basis and must apply for licenses in Germany, Lithuania, and other countries before being passported back to Poland.

27
June
Brazil's central bank has introduced new regulations: transfers exceeding $1 from escrow wallets will be subject to reporting and delayed by 24 hours.
Brazil's central bank has introduced new regulations: transfers exceeding $1 from escrow wallets will be subject to reporting and delayed by 24 hours.

The Central Bank of Brazil issued Resolution 584/2026, bringing virtual asset transfers exceeding $10,000 to self-custodied wallets or offshore VASPs under a delay and reporting regulation: any single transfer or cumulative transfers of such amounts exceeding $10,000 on the same day must be delayed for up to 24 hours and reported to the Committee on Control of Financial Activities (COAF). The reporting rule is effective October 2026.

25
June
South Korean police investigate cryptocurrency futures investment consulting firm: More than 20 investors have been victimized, alleging risks related to undeclared exchanges.
South Korean police investigate cryptocurrency futures investment consulting firm: More than 20 investors have been victimized, alleging risks related to undeclared exchanges.

This article summarizes the progress of the South Korean police investigation into a cryptocurrency futures investment consulting firm: media reports indicate that more than 20 investors have been victimized, but the police are still verifying the exact number and losses; the incident also highlights the operational and compliance risks of unregistered virtual asset exchanges.

10
June
Pakistan VASP Licenses: PVARA sets a September 5th registration deadline; 11 types of licenses under the Virtual Assets Act are now in effect.
Pakistan VASP Licenses: PVARA sets a September 5th registration deadline; 11 types of licenses under the Virtual Assets Act are now in effect.

Pakistan's PVARA has opened its licensing portal. Transitional entities already operating before March 5, 2026, must apply for a certificate of no objection by September 5, or they will have to cease operations. The Virtual Assets Act 2026 establishes 11 types of licenses, requiring locally registered companies, paid-up capital, suitability testing, and anti-money laundering systems. Offshore exchanges must establish local subsidiaries to renew their licenses.

25
June
South Korea's FIU (International Federation of Trade Unions) introduces new regulations for virtual asset transfers: personal wallets and overseas exchanges will be managed according to risk levels.
South Korea's FIU (International Federation of Trade Unions) introduces new regulations for virtual asset transfers: personal wallets and overseas exchanges will be managed according to risk levels.

South Korea's Financial Institutional Investor (FIU) has announced revised anti-money laundering regulations for virtual assets. High-risk transfers from personal wallets are restricted, while non-high-risk transfers are limited to the individual's own wallet. Overseas exchanges are categorized into low, medium, and high-risk levels for control. The Travel Rule has removed the 1 million won threshold, and VASP registration terms will take effect on August 20th. Requirements for personal wallets and overseas exchanges are expected to be implemented by 2026.

24
June
Pakistan's PVARA sets a September 5th deadline for crypto platform licenses: NOC application and a framework for 10 types of VASP licenses.
Pakistan's PVARA sets a September 5th deadline for crypto platform licenses: NOC application and a framework for 10 types of VASP licenses.

Pakistan's PVARA has launched an application process for encryption platform licenses. Existing operators must submit their Nomination of Authorization (NOC) applications by September 5, 2026, or face closure. Under Section 70 of the Virtual Assets Act 2026, the NOC is only a preliminary authorization and does not equate to a formal VASP license. The Act establishes 10 types of licenses; Binance and HTX obtained their NOCs in December 2025.

24
June
South Korea | BitGo Korea Receives VASP Registration: First Foreign-Owned Firm to Enter Institutional Crypto Custody Market
BitGo states that its South Korean entity has completed VASP registration: The scope of services and regulatory status should still be verified against the official directory.

BitGo's company announcements can provide details of its self-reported registration progress; the final regulatory status, scope of services, and regulatory requirements still need to be verified item by item against the public records of the competent authorities in South Korea.

20
June
South Korean VASP License: BitGo's South Korean subsidiary received approval from the FIU, becoming the first overseas crypto company to receive direct approval.
BitGo's Korean entity VASP progress: Application, registration, and business approval must be verified separately.

Company announcements can explain the progress of their self-reported VASPs; application acceptance, registration completion, continuous compliance, and specific business operations that can be carried out are not interchangeable.

20
June
A Look Inside Vietnam's Crypto Asset Trading License Pilot Program: 10 Trillion Vietnamese Dong Paid-in Capital and Total Control of 5 Entities
A Look Inside Vietnam's Crypto Asset Trading License Pilot Program: 10 Trillion Vietnamese Dong Paid-in Capital and Total Control of 5 Entities

Vietnam is launching a five-year pilot program for a cryptocurrency trading market in accordance with Resolution 05/2025/NQ-CP, with the first batch of platforms expected to launch as early as the third quarter of 2026. The total number of licenses is capped at five, with a minimum paid-in registered capital of 10 trillion VND (approximately US$380 million). Institutional shareholders must hold at least 65% of the shares, foreign ownership is capped at 49%, and information systems must meet Level 4 standards.

19
June
Seoul Customs arrests drug traffickers smuggling drugs via the dark web; VASP registration review and travel rules are tightened simultaneously.
South Korea's VASP (Visa Application Program) on anti-money laundering and cross-border transfers: Current travel rules and the 2026 revisions should be verified separately.

According to official South Korean documents, the scope of application, implementation schedule, and cross-border conditions of the current travel rules should be verified separately from those of the revised rules approved in 2026; no enforcement conclusions for any platform or individual case can be presumed based on this.

19
June
Philippine Virtual Asset License: Binance Returns Through SEC Sandbox; CZ Calls for ASEAN to Promote Mutual Recognition of Licenses
Philippine Virtual Asset License: Binance Returns Through SEC Sandbox; CZ Calls for ASEAN to Promote Mutual Recognition of Licenses

Binance, through its local partner BlockShoals, has re-entered the market as a crypto asset intermediary within the Philippine SEC's Strategic Regulatory Sandbox (StratBox), a controlled test rather than a permanent license. CZ stated that the sandbox license is unique, fiat currency channels will be launched, and advocated for mutual recognition of regulatory passports and licenses within ASEAN. The Philippine multi-bank peso stablecoin PHPX awaits BSP approval, aiming to reduce annual remittance costs of approximately $350 billion to near zero.

17
June
Data breach at Bits of Gold, an Israeli VASP-licensed broker: Implications for crypto compliance from third-party vendor risks.
Data breach at Bits of Gold, an Israeli VASP-licensed broker: Implications for crypto compliance from third-party vendor risks.

Bits of Gold, Israel's largest regulated crypto broker, reported a data breach on August 16, 2026, potentially exposing the identities and banking information of approximately 200,000 customers. The breach originated from a compromised third-party customer service software. The company holds the first CMISA...

16
June
Ireland plans to introduce anti-money laundering industry standards for crypto assets to strictly control private wallet transfers and cross-border funds.
Ireland plans to introduce anti-money laundering industry standards for crypto assets to strictly control private wallet transfers and cross-border funds.

The Irish government has released its first national anti-money laundering strategy, listing crypto assets as a key target for prevention and control. This includes requiring the CASP to strengthen verification of private wallet transfers, conducting rigorous due diligence on overseas crypto companies, and tasking the Gambling Regulatory Authority with developing industry standards for crypto funds. Supporting legislation is the MiCA (Military Asset Management Act) and a mutual assessment with the FATF (Financial Action Task Force) in 2028.

15
June
A Singapore-based crypto phishing job posting scam resulted in the theft of $1180 million: a warning about the security and compliance of licensed DPT service providers.
A Singapore-based crypto phishing job posting scam resulted in the theft of $1180 million: a warning about the security and compliance of licensed DPT service providers.

The Singapore Police Force and the Cyber ​​Security Agency (MAS) have jointly warned that a phishing attack using fake LinkedIn job postings resulted in the theft of approximately US$1,180 million (S$1,510 million) in crypto assets. This article dissects the attack chain from recruitment to asset transfer and outlines the boundaries of MAS's technical risk management and anti-money laundering compliance obligations for licensed digital payment token service providers.

15
June
South Korean Delio CEO sentenced to 15 years in prison for $4900 million fraud: False VASP registrations were key to conviction.
South Korean Delio CEO sentenced to 15 years in prison for $4900 million fraud: False VASP registrations were key to conviction.

On August 13, the Seoul Southern District Court sentenced Jung Sang-ho, founder of the crypto lending platform Delio, to 15 years in prison. His primary charge was the collapse of the server's forensic program, but he was ultimately convicted of fraud of approximately $49 million. The court also found him guilty of registering a VASP license with a false audit report, highlighting the red lines of due diligence for licensed institutions and the personal responsibility of the actual controller.

15
June
Dubai's VARA has granted Deribit a brokerage license, with spot orders routed to Coinbase Exchange.
Dubai's VARA has granted Deribit a brokerage license, with spot orders routed to Coinbase Exchange.

The Dubai Virtual Asset Regulatory Authority (VARA) has granted a brokerage license to Deribit, a subsidiary of Coinbase, allowing users' spot orders to be routed to Coinbase Exchange for execution. This license is an upgrade to the existing VASP (Virtual Asset Provider) permissions, and upon approval, spot assets can be used as collateral for derivatives, reinforcing Dubai's position as a regulated digital asset hub.

14
June
The head of an unlicensed virtual asset service provider in Georgia has been detained: operating without registration could result in 3-5 years imprisonment.
The head of an unlicensed virtual asset service provider in Georgia has been detained: operating without registration could result in 3-5 years imprisonment.

The Georgian Ministry of Finance's Investigation Service arrested the head of an unregistered virtual asset service provider suspected of conducting tens of millions of dollars in virtual asset transactions without registering with the National Bank of Georgia. The operation facilitated unregulated cross-border fund flows through the exchange of virtual assets for cash, and approximately $164,000 in cash and crypto assets were seized. The suspect faces three to five years in prison under Article 192, Paragraph 2a of the Georgian Criminal Code, and the investigation is expanding to include charges of tax evasion and money laundering.

14
June
Australian ASIC warns Yepbit of unlicensed operation: Analysis of AFSL and AUSTRAC VASPR dual registration requirements
Australian ASIC warns Yepbit of unlicensed operation: Analysis of AFSL and AUSTRAC VASPR dual registration requirements

On August 12, 2026, the Australian Securities and Investments Commission (ASIC) issued a warning to Yepbit and Yepbit Exchange because several investors were unable to withdraw their funds. Yepbit falsely claimed that ASIC's freezing of funds was a pretext to refuse refunds, and further alleged that it did not hold an AFSL and was not listed...

14
June

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