Virtual Asset Service Provider
The terms “Virtual asset” and “Virtual asset service provider” originate from the Financial Action Task Force (the “FATF”) “Recommendation 15 – New Technologies” (the “FATF Recommendation 15”) annexed to the FATF Guidance on Virtual assets and VASP (the “FATF Guidance”). These documents were published for the first time back in 2015 and were subsequently modified in 2019 and 2021.
Important notice regarding this website content !
Please be advised that the content provided on this website is for informational purposes only and is not intended to be construed as legal advice. The complexities and nuances of digital and virtual assets law require personalised, professional legal consultation. We strongly recommend that you contact Jurisconsul Law firm directly for any specific legal questions or before making any decisions based on the information provided here. Our experienced team at Jurisconsul is committed to offering tailored advice and comprehensive legal solutions that cater to your individual needs and circumstances, ensuring informed and strategic decision-making in the area of digital and virtual assets applicable regulations.
Luxembourg VASP Registration process
Who should Register?
A member State does not need to require a separate licensing or registration from natural or legal persons that are already licensed or registered as financial institutions...
"Digital currency" designates any currency, money or money-like asset under a digital/electronic form. It encompasses Virtual currencies as well as electronic money. Whereas Virtual currencies do not represent fiat currencies (that is, an official national currency), electronic money does so.
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