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Learn more about how MarketGuard AML compliance software can assist a European VASP and CASP with blockchain transaction monitoring and Travel Rule


Under the Markets in Crypto-Assets (MiCA) regulation proposed by the European Union, a crypto-asset service provider (CASP) refers to any person or legal entity whose occupation or business involves providing one or more crypto-asset services to third parties on a professional basis. This can include activities such as custody and administration of crypto-assets, operating a trading platform for crypto-assets, exchanging crypto-assets for fiat currency or other crypto-assets, executing orders for crypto-assets, placing of crypto-assets, and providing advice on crypto-assets.

MiCA defines CASPs in a broader sense compared to the Financial Action Task Force's (FATF) definition of virtual asset service providers (VASPs) in order to cover most crypto companies and potential market niches that may emerge in the future. CASPs must comply with certain requirements under MiCA, such as obtaining authorization from their national regulator, implementing risk management procedures, and adhering to certain transparency and disclosure obligations.