Quick answer
Every crypto exchange operating in a regulated jurisdiction must be registered — and using an unregistered one carries risk.
Regulations
Australia
Canada
Germany
India
Japan
Singapore
United Arab Emirates
United Kingdom
VASP Registration
The requirement for crypto exchanges and service providers to register with national regulators to operate legally.
AustraliaCanadaGermanyIndiaJapanSingaporeUnited Arab EmiratesUnited KingdomUnderstanding VASP Registration on crypto
Virtual Asset Service Provider (VASP) registration is the regulatory requirement for crypto exchanges, brokers, custodians, and related businesses to register with — and in some jurisdictions obtain a licence from — national financial regulators. Registration typically requires demonstrating AML/CTF compliance, fit-and-proper checks on directors, cybersecurity standards, and consumer protection measures. The requirements vary significantly: from basic AML registration (UK FCA) to full licensing (Singapore MAS, Germany BaFin under MiCA). Using an unregistered VASP exposes users to risks including exit scams, lack of consumer protection, and potential asset seizure.
Virtual Asset Service Provider (VASP) registration is the regulatory requirement for crypto exchanges, brokers, custodians, and related businesses to register with — and in some jurisdictions obtain a licence from — national financial regulators. Registration typically requires demonstrating AML/CTF compliance, fit-and-proper checks on directors, cybersecurity standards, and consumer protection measures. The requirements vary significantly: from basic AML registration (UK FCA) to full licensing (Singapore MAS, Germany BaFin under MiCA). Using an unregistered VASP exposes users to risks including exit scams, lack of consumer protection, and potential asset seizure.
What this means for your crypto activity
Use registered exchanges
Only use exchanges registered with the relevant national regulator in your jurisdiction.
AML and consumer protection
Registered VASPs are required to maintain AML programs, segregate client funds, and report suspicious activity.
Unregistered risk
Unregistered exchanges may not be legally permitted to serve users in your country.
Tax authority sharing
VASP registration data is increasingly shared with tax authorities under CARF and DAC8.
Verify on regulator sites
Regulatory status can be verified on national regulator websites (FCA, MAS, BaFin, etc.).
- Only use exchanges registered with the relevant national regulator in your jurisdiction.
- Registered VASPs are required to maintain AML programs, segregate client funds, and report suspicious activity.
- Unregistered exchanges may not be legally permitted to serve users in your country.
- VASP registration data is increasingly shared with tax authorities under CARF and DAC8.
- Regulatory status can be verified on national regulator websites (FCA, MAS, BaFin, etc.).
Seeing it in action
Example scenario
Marcus wants to use a new DeFi-adjacent exchange. He checks the UK FCA register and finds it is not registered under the UK Money Laundering Regulations. The FCA has issued a consumer warning about the firm. Marcus chooses a registered alternative — protecting himself from regulatory risk and ensuring his transactions are properly reported.
How this works across jurisdictions
- Australia
AUSTRAC registration mandatory for Digital Currency Exchanges.
- Canada
FINTRAC Money Services Business registration required.
- Germany
BaFin licensing under KWG; full MiCA CASP authorisation from 2024.
- India
FIU-IND registration mandatory for VDASPs under Prevention of Money Laundering Act.
- Japan
FSA registration under Payment Services Act required.
- Singapore
MAS Major Payment Institution or Standard Payment Institution licence required under PSA.
- United Arab Emirates
VARA (Dubai) or ADGM/FSRA licences required for UAE operations.
- United Kingdom
FCA registration under Money Laundering Regulations required; FCA maintains a public register of approved crypto firms.
Take Control of Your Crypto Finances
From crypto taxes to accounting, KoinX helps you manage, track, and stay compliant and to end.
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