[Agataaa6]

I’ve been looking into the crypto business and keep coming across the term “VASP license.” To be honest, I’d never even heard of it before a friend of mine started launching his own service and mentioned that there could be problems without it. He said it had something to do with regulations and requirements for companies that work with crypto assets. But there’s a lot of information out there, and it’s all over the place, so I’m a little confused. I’d like to understand in simple terms—what exactly is it, and how mandatory is it?

[Alexxx7]

To put it simply, a VASP is essentially a license or status for companies that deal with cryptocurrencies, such as exchanges or wallets. It’s required for a business to operate legally and comply with AML/KYC requirements. When I was looking into this, I came across Gofaizen & Sherle, which explains in detail exactly how it works. A colleague of mine launched a small crypto project and initially underestimated the importance of these requirements, but later realized that without them, it’s difficult to work with banks and partners. As a result, he had to completely restructure everything to comply with regulations, which took some time.

[Agataaa6]

Thanks for the clear explanation—that’s actually really helpful. The way you described VASP makes it much easier to understand why it’s not just a formality but something that directly impacts how a business operates day to day.
Your colleague’s experience is a good example too. A lot of people probably underestimate how critical AML/KYC and proper registration are until they run into issues with banks or partners. Having to restructure everything later sounds like a headache that could’ve been avoided with the right setup from the start.

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