Virtual Asset Service Providers (VASPs) are businesses that facilitate the use of cryptocurrency . They offer services like exchanges where you can buy and sell crypto, wallets for storing it, and processors for handling crypto transactions. Essentially, they are the middlemen that help individuals and companies participate in the crypto world. VASPs are increasingly subject to regulations aimed at preventing money laundering and illicit activities, requiring them to verify customer identities and comply with Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) laws.