Crypto regulation glossary
This is general information, not legal, tax, or financial advice. The relevant regulators are named below. Verify the current position with a qualified local professional and the official regulator before acting.
This glossary defines the legal and regulatory terms used across wherelegalcrypto.com in plain language, from MiCA and VASP to CARF and the FATF travel rule, so you can read any country or exchange page with the same vocabulary, as of February 2026.
Regulators and bodies
FATF is the Financial Action Task Force, the global body that sets anti money laundering standards that many countries apply to crypto. ESMA is the European Securities and Markets Authority, which oversees crypto markets in the European Union. EBA is the European Banking Authority, which supervises significant stablecoins in the European Union. SEC and CFTC are the United States securities and commodities regulators. OECD is the Organisation for Economic Cooperation and Development, which wrote the crypto tax reporting framework.
Frameworks and laws
MiCA, the Markets in Crypto Assets regulation, is the European Union framework for crypto assets and service providers. MiFID II is the European Union framework for financial instruments, which can apply to crypto derivatives. VASP means Virtual Asset Service Provider, the FATF term for businesses that handle crypto for others. CASP means Crypto Asset Service Provider, the MiCA term for the same kind of business in the European Union.
Tax and reporting terms
CARF is the OECD Crypto Asset Reporting Framework for the automatic exchange of crypto account information between tax authorities. DAC8 is the European Union directive that puts CARF into effect across member states. Form 1099 DA is the United States broker reporting form for digital asset transactions. CRS is the Common Reporting Standard, which covers traditional financial accounts.
Market and product terms
Electronic money token is a stablecoin that references one official currency. Asset referenced token is a stablecoin that references another value or a basket of assets. Custodial means a platform holds your assets for you, while non custodial means you hold your own keys. KYC means Know Your Customer, the identity checks a platform runs. Travel rule is the FATF requirement to pass sender and recipient information with certain transfers.
Where each term matters
These terms recur across our country hubs, topic pages, and exchange pages. Use the related links below to read the dedicated explainers, and follow the country and exchange pages to see how each rule applies in a specific place. This glossary is general information and not legal or tax advice.
Regulators and sources
- Financial Action Task Force, virtual assets
- European Securities and Markets Authority, MiCA
- OECD, Crypto Asset Reporting Framework
Frequently asked questions
What is a VASP?
A Virtual Asset Service Provider is a business that handles crypto for others, such as an exchange or custodian. The term comes from the Financial Action Task Force and is used in anti money laundering rules worldwide.
What is the difference between a VASP and a CASP?
Both describe businesses that provide crypto services. VASP is the global Financial Action Task Force term, while CASP, Crypto Asset Service Provider, is the specific term used in the European Union under MiCA.
What is the FATF travel rule?
It is the Financial Action Task Force requirement that providers pass identifying information about the sender and recipient alongside certain crypto transfers, mirroring a long standing rule for bank wires.
What is the difference between an electronic money token and an asset referenced token?
An electronic money token references one official currency, while an asset referenced token references another value or a basket of assets. Both are stablecoin categories defined under MiCA.
Is this glossary legal advice?
No. It provides plain language definitions for general understanding. For how a term applies to your situation, read the relevant country or exchange page and confirm with the official regulator and a qualified professional.
Definitions summarise complex and evolving rules. The way a term is applied can differ by jurisdiction and change over time, so confirm the current meaning and effect with the official regulator before acting.