The 2021 Act provides a specific registration regime for Virtual Asset Service Providers (VASPs). For the purposes of the legislation, VASPs are firms that provide any of the following services relating to virtual assets:

• Exchange between virtual assets and fiat currencies;
• Exchange between one or more forms of virtual assets;
• Transfer of virtual assets, that is to say, to conduct a transaction on behalf of another person that moves a virtual asset from one virtual asset address or account to another;
• Custodian wallet provider; and
• Participation in, and provision of, financial services related to an issuer’s offer or sale of a virtual asset or both.

All companies providing VASP services, they must register with the Central Bank under the Central Bank’s VASP registration regime.