VIRTUAL ASSETS SERVICE PROVIDER (VASP) LICENSE

Thinking of creating your own crypto exchange, engaged into cryptocurrency operations and need expertise in regulatory framework? You are in the right place!

What is VASP License?

The VASP license, referring to Virtual Asset Services Provider, is a mandatory authorization for entities engaged in crypto asset-related services. Registering for a VASP license is essential for compliance with regulatory framework. VASP is a low-tier alternative to Money Services Business (MSB) license of Canada, with somewhat limited functionality.

Possessing a VASP license is critical for companies working with virtual assets, such as cryptocurrency exchanges or wallet providers. It signifies adherence to regulatory standards, promoting transparency, security, and integrity within the virtual asset ecosystem.

Cryptocurrency exchange
Digital wallet provider

Learn more about different solution of combined fiat remittance and cryptocurrency operations license.

We offer Money Services Business (MSB) license with this functionality.

companies using VASP or MSB

Example of companies using VASP or MSB license for operations in digital currencies:

VASP POLAND

MSB CANADA

Binance

WhiteBit

BitGet

Kriptomat

BitStamp

Kraken

Lbank

Coinex

VASP AUTHORIZATION IN POLAND

Poland serves as an attractive locale for cryptocurrency and information technology ventures. The involvement in cryptocurrency-related activities does not currently entail a specific licensing framework but is regarded as a licensed trade. Entities seeking to operate in this domain must register with the Trade Licensing Register, overseen by the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego - KNF).

The registration process is characterized by simplicity, with no mandatory corporate account requirements and a nominal minimum share capital.

While there is no formal licensing akin to traditional financial institutions, entities engaged in cryptocurrency activities are considered "obliged entities" in Poland. Regulatory oversight is conducted by the Financial Analytical Office (Financial Intelligence Unit) to ensure compliance with the Anti-Money Laundering (AML) Act. 



Compliance obligations encompass the formulation and implementation of robust Anti-Money Laundering/Know Your Customer (AML/KYC) policies, strict adherence to reporting frameworks, and the appointment of an Anti-Money Laundering Officer to oversee regulatory compliance.

Typically, the entire registration process, from initiation to formal listing, spans a period of 1 to 3 weeks.

Turn-key company registration with VASP authorization in Poland

12 500 EUR

Included into offer:

Operational Costs

Perspective management must be aware of following processes and additional costs involved (but not limited to):


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