vasp

The Web3 asset data platform RootData has outlined Upbit's business partners, which are relatively limited and mainly focused on areas such as blockchain infrastructure and compliance services. This is closely related to South Korea's unique and strict regulatory framework: under a system environment centered on real-name systems, VASP regulation, and anti-money laundering, exchanges are required to take greater responsibility for the flow of funds and user identities, making Upbit more inclined to develop its own systems and build localized capabilities rather than extensively introducing external partners.From the disclosed structure, on the technical side, infrastructure capabilities are strengthened through Lambda256, Aptos, and others; on the compliance level, service providers such as VerifyVASP, Chainalysis, and Crystal Intelligence are introduced; and supplementary funding and liquidity are provided through Circle and Naver Pay. Additionally, Upbit quickly built trading capabilities relying on its cooperation with Bittrex since its launch in 2017.On the branding side, Upbit has explored NFT entertainment collaborations with Hybe and has laid out plans in esports (LCK) and signed top players like Faker, while also becoming a primary partner of the Korean Sports Council. However, as the popularity of NFTs and the metaverse has declined, the influence of related entertainment collaborations has weakened. Related compilation: [Upbit Web3 Partner Network Compilation (continuously updated)](https://cn

The National Bank of Pakistan has officially lifted its ban on virtual assets that has been in place since 2018, allowing banks to open independent interest-free rupee accounts for virtual asset service providers (VASP) licensed by the Pakistan Virtual Assets Regulatory Authority (PVARA), and banks must conduct due diligence on the relevant institutions.

The Bank of Lithuania has stipulated that the transition period for crypto asset service providers to obtain a license will end on December 31, 2025. After the transition period, VASPs that have not obtained a CASP license under MiCA must cease related services, including no longer accepting new customers, no longer holding customer assets, and must properly return customer funds and crypto assets.As of July 18, 2025, approximately 30 companies have applied to the Bank of Lithuania for a crypto asset service provider license, with 10 applications currently under evaluation. More than 370 companies have reported providing crypto asset services to the National Enterprise Register, but only 120 companies are actually operating, generating revenue, and submitting financial statements.

The Italian Securities Market Regulator (Consob) issued a notice reminding that, according to the EU Regulation on Markets in Crypto-Assets (MiCAR), virtual asset service providers (VASP) currently registered with the OAM in Italy must submit an application to transition to a regulated crypto asset service provider (CASP) by December 30, 2025, in order to continue operating. Otherwise, they will not be allowed to provide related services from that date, and must cease operations by June 30, 2026, at the latest.Consob specifically reminds investors: it is essential to confirm whether the VASP currently partnered with plans to apply for a CASP license; check if the service provider is listed in the ESMA (European Securities and Markets Authority) or OAM registry; if the service provider is not authorized, investors have the right to request the return of their assets. Consob also reiterates its urging to VASP: those who have not applied for CASP authorization must cease operations by December 30, close all contracts, and return user funds; clearly disclose future operational plans or exit arrangements to users. This notice is part of the comprehensive implementation of MiCAR in the EU, ensuring a smooth and orderly transition in the market.

ChainCatcher news, according to market news, Animoca Brands is now entering the crypto brokerage field after receiving the principle approval from the Dubai Virtual Assets Regulatory Authority (VARA).The official website of the Dubai Virtual Assets Regulatory Authority shows that Animoca Brands has received principle approval for the VASP service license for crypto brokerage under the name "Animoca Brands Middle East Advisory FZCO."

ChainCatcher news, according to market news, blockchain company Plasma, focused on stablecoin networks, announced a significant business expansion in Europe to provide regulated payment services.The company stated on Thursday that it has acquired an entity with a Virtual Asset Service Provider (VASP) license in Italy, allowing it to legally process cryptocurrency transactions and custody assets in the region. As part of its EU expansion plan, the company will open a new office in Amsterdam, Netherlands, and has appointed a Chief Compliance Officer and Anti-Money Laundering Reporting Officer. Plasma did not disclose the name of the acquired entity, and its spokesperson did not immediately respond to requests for comment. The company also plans to apply for the Crypto Asset Service Provider (CASP) qualification under the new EU Markets in Crypto-Assets Regulation (MiCA) and to obtain an Electronic Money Institution (EMI) license. These initiatives will enable Plasma to exchange assets, issue cards, and hold customer funds under regulatory protection. Plasma stated that its goal is to support its stablecoin-based new bank, Plasma One, through these licenses.

ChainCatcher news, according to market news, blockchain data analysis and digital asset recovery service provider Recoveries announced the completion of a 1 million Swiss franc strategic round of financing, led by VerifyVASP, with participation from a group of angel investors.The new funds are intended to accelerate the development of its AI-enhanced blockchain investigation management system that supports cross-chain investigations, aiming to streamline the digital asset recovery processes for global exchanges, banks, insurance companies, and law firms.

ChainCatcher news, according to Zhitong Finance, FTFT.US announced today that its wholly-owned Hong Kong subsidiary "FTFT International Securities and Futures Limited" has officially signed a委托协议 with a well-known compliance consultant in Hong Kong. The agreement entrusts the consultant to apply for a Virtual Asset Service Provider (VASP) license from the Hong Kong Securities and Futures Commission (SFC) based on the company's original holdings of Hong Kong licenses No. 1, 2, and 4, while also applying for a Type 9 asset management license, with plans to cover both traditional and virtual asset management businesses.The consultant will conduct a detailed review and assessment of the company's business model, risk management capabilities, and assist the company in preparing the relevant application materials and business plan to submit to the Hong Kong Securities and Futures Commission.

ChainCatcher news, according to Cointelegraph, the proposed VASP (Virtual Asset Service Provider) bill in Kenya has raised concerns among local crypto startups, warning that the bill could give undue influence to lobbying groups associated with Binance, potentially undermining fair competition in the country's digital asset industry.It is reported that VAC has hosted regulatory dialogues sponsored by Binance multiple times and has a vested interest with it, now being proposed to be included as a member of the regulatory committee. Sources say that Binance pays VAC $6,000 per month for policy lobbying, which could lead to new regulations favoring Binance and weaken market fairness.In response, the head of VAC stated that it has engaged in policy communication with the IMF, the Central Bank of Kenya, and Parliament for two years, gaining national trust. Binance has not yet responded to this.

ChainCatcher news, according to an official report from Bithumb, due to some virtual asset service providers (VASP) suspending their Travel Rule solution services, it is no longer possible to withdraw virtual assets worth more than 1 million KRW to VASP.

ChainCatcher news, the Financial Intelligence Unit (FIU) of South Korea announced that starting from March 25, it will implement domestic access restrictions on the Google Play platform applications of 17 overseas virtual asset service providers (VASP) that are not registered in South Korea, including KuCoin, MEXC, etc. This means that users will not be able to install the relevant applications anew, and existing users will also be unable to update.

ChainCatcher news, according to FinanceFeeds, Crypto.com has announced that it has completed the registration as a virtual asset service provider in Argentina and will expand its services in the Latin American market.It is reported that the Argentine National Securities Commission has approved Crypto.com's application for registration as a virtual asset service provider (VASP), and the exchange will subsequently launch localized crypto products.

ChainCatcher news, Bitget released its transparency report for February 2025. The report shows that Bitget's global user base has surpassed 100 million, with an average daily trading volume reaching $20 billion, and user participation in both spot and futures markets continues to grow. To ensure the security of user assets, the fund value is maintained at $600 million. In addition, Bitget ranks 8th on Forbes' list of "Most Trusted Cryptocurrency Exchanges." Meanwhile, based on business growth in 2024, the company distributed $70 million in bonuses to employees.In terms of compliance and global market expansion, Bitget obtained a VASP license issued by the Bulgarian National Revenue Agency, further expanding its compliance footprint in the European market. In February, Bitget held multiple community events globally, covering Latin America, Africa, Europe, the Middle East, and Southeast Asia, attracting numerous users and industry leaders to jointly promote the development of the crypto ecosystem.

ChainCatcher news, licensed virtual asset exchange HashKey Global has recently announced a partnership with global travel rule solution provider VerifyVASP. The two parties will deploy a comprehensive Travel Rule compliance solution within HashKey's global licensed exchange network. This move aims to respond to the accelerated enforcement requirements of the Financial Action Task Force (FATF) travel rules by regulatory authorities worldwide, addressing the evolving anti-money laundering (AML) challenges in the virtual asset trading sector.According to the agreement, both parties will enhance the compliance transmission capability of transaction data across jurisdictions through technological integration and standardized processes, ensuring that customer identity information complies with international regulatory frameworks during virtual asset transfers. HashKey Global has previously joined the Global Travel Rule Alliance (GTR Alliance) and plans to further strengthen its compliance infrastructure through this partnership. Industry analysts point out that as global virtual asset regulation tightens, such collaborations will be key for exchanges to enhance their international competitiveness. HashKey Global's compliance layout not only covers the Asian market but also promotes the unification of industry standards through its global licensed network.

ChainCatcher news, according to CoinDesk, the DeFi platform MANTRA has obtained a Virtual Asset Service Provider (VASP) license issued by the Dubai Virtual Assets Regulatory Authority (VARA). This license will enhance MANTRA's influence in the Middle East and support its focus on the tokenization of Real World Assets (RWA).

ChainCatcher news, according to official sources, Bitget has obtained a VASP license issued by the Bulgarian National Revenue Agency. With the VASP license, Bitget will be able to provide comprehensive cryptocurrency services in Bulgaria, including trading, transfers, custody, public offerings, and wallet services.Bitget's Chief Legal Officer Hon Ng stated, "Bitget's goal is to provide efficient and compliant services to users across the EU. As the EU continues to lead the introduction of regulatory frameworks such as MiCA, we see tremendous potential for sustainable growth and innovation in the region while remaining compliant.In 2025, Bitget will focus on global expansion, particularly ensuring that our operations comply with the regulatory standards of various regions, thereby enhancing user trust, ensuring long-term growth, and keeping up with the latest developments in global regulations."

ChainCatcher message, Upbit announced that due to the maintenance of the VerifyVASP (VV) server, digital asset transfers involving more than 1 million KRW may be affected from February 12, 2025, 23:00 to 23:30.This maintenance will affect deposit and withdrawal operations that rely on travel rule verification and account holder confirmation services.