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VASP/CASP Licensing

Global

Effective: Varies by jurisdiction

Registration and licensing requirements for virtual asset service providers

licensing

Summary

Over 70 jurisdictions have implemented crypto-specific licensing frameworks as of 2026. Key trends: convergence toward FATF Travel Rule compliance, increasing capital requirements, mandatory local substance (directors, offices, servers), stablecoin-specific licensing carve-outs, and growing enforcement against unlicensed operators. Capital requirements range from zero (India FIU registration) to millions (UAE VARA exchange: AED 15M, Switzerland banking: CHF 10M+).

Key Requirements

  • Registration with national authority
  • Fit-and-proper management assessment
  • Capital requirements (vary by jurisdiction)
  • Ongoing compliance obligations
  • Periodic regulatory reporting
  • Governance and operational standards
  • Local substance requirements (most jurisdictions)
  • Over 70 jurisdictions have implemented crypto-specific licensing frameworks as of 2026. Key trends: convergence toward FATF Travel Rule compliance, in

Jurisdictions Implementing This Framework

AD Andorra AE United Arab Emirates AM Armenia AR Argentina AT Austria AU Australia BA Bosnia and Herzegovina BE Belgium BF Burkina Faso BG Bulgaria BH Bahrain BJ Benin BO Bolivia BR Brazil BS Bahamas BT Bhutan BW Botswana BZ Belize CA Canada CD Democratic Republic of the Congo CG Congo CH Switzerland CI Cote d'Ivoire CN China CR Costa Rica CU Cuba CV Cabo Verde CZ Czech Republic DE Germany DK Denmark DM Dominica DO Dominican Republic EE Estonia ES Spain EU European Union FJ Fiji FR France GA Gabon GB United Kingdom GD Grenada GI Gibraltar GM Gambia GW Guinea-Bissau GY Guyana HK Hong Kong HR Croatia HT Haiti HU Hungary ID Indonesia IE Ireland IL Israel IN India IS Iceland IT Italy JE Jersey JM Jamaica JO Jordan KE Kenya KH Cambodia KM Comoros KR South Korea KY Cayman Islands LC Saint Lucia LK Sri Lanka LS Lesotho LT Lithuania LU Luxembourg LV Latvia MC Monaco MD Moldova ME Montenegro MG Madagascar MH Marshall Islands MK North Macedonia ML Mali MN Mongolia MT Malta MU Mauritius MV Maldives MW Malawi MX Mexico NA Namibia NG Nigeria NO Norway NR Nauru OM Oman PE Peru PH Philippines PL Poland PT Portugal PW Palau PY Paraguay RO Romania RS Serbia RU Russia RW Rwanda SA Saudi Arabia SB Solomon Islands SC Seychelles SG Singapore SI Slovenia SK Slovakia SR Suriname SS South Sudan ST Sao Tome and Principe TH Thailand TL Timor-Leste TM Turkmenistan TW Taiwan TZ Tanzania UG Uganda US United States UY Uruguay VC Saint Vincent and the Grenadines VG British Virgin Islands WS Samoa

116 jurisdictions reference this framework

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Last updated: 2026-04-12. View all frameworks