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Virtual Asset Service Providers
From brokers to OTC desks, we help virtual asset service providers (VASPs) build compliance programs that satisfy local financial intelligence centres.
Regulatory Challenges
- Varying definitions of VASP across regional borders
- Bans or restrictions on banking channels for crypto-related transactions
- High insurance and security bond requirements
- Cross-border remittance reporting requirements
How TechLaw Africa Helps
- ✓Structuring banking relationships through compliant third-party processors
- ✓Drafting legal opinions on asset classifications
- ✓Securing VASP certificates and licenses in welcoming jurisdictions
- ✓Developing regulatory reporting templates for transactions
Q&A
Frequently Asked Questions
Q: Do non-custodial wallet operators need to register as VASPs?
In most African jurisdictions, if you do not control or hold client keys or funds, you may fall outside the custodial VASP rules. However, local definitions vary, and a formal legal classification opinion is highly recommended.
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