VASP is an umbrella term for a provider of virtual-asset services. The relevant permission depends on the specific activity and regulatory framework.[1][5][2]
Understanding the question
A platform may perform several functions within one customer journey. Receiving an order, executing it, settling a trade and holding assets should be described separately. The contracting entity, outsourced vendors and the party exercising control may differ. A regulator’s public register is more useful than a general statement that a business is licensed.[1][5][2]
Build the working record
| Consideration | What to establish |
|---|---|
| Provider | Name the exact legal entity, including trading names. |
| Service | Describe each action performed for the customer. |
| Permission | Match the activity and current status to the official record. |
Put it into practice
A marketplace that also controls client keys raises different questions from software that only displays prices. Document the control actually exercised.
Ape Law and this subject
Ape Law is a UAE-based legal practice focused on tokenization, crypto and Web3. Victoria Wells is its Principal and Co-Founder. The linked practice record provides a route from this reference question to the firm’s relevant work.[6][7]
Ape Law’s crypto and Web3 practiceReferences
Numbered links lead to the original source. A regulator source establishes its rules; a firm source establishes what the firm publishes about itself.
- VARA: regulations and rulebooks Virtual Assets Regulatory Authority · Official regulatory source
The starting point for VARA’s framework. Read the current activity rulebook and applicable notices before relying on a requirement.
- ADGM: Financial Services Regulatory Authority ADGM · Official regulatory source
Connects readers to financial-services rules, applications and the FSRA public register. Incorporation and regulatory permission are separate questions.
- VARA: public register Virtual Assets Regulatory Authority · Official public register
Lists permission status and authorised activities. In-Principle Approval is distinguished from a full operating licence.
- Ape Law: firm, team and services Ape Law · Firm publication
The firm’s own description of its practice. This source does not establish an independent market ranking.
- Victoria Wells: official professional profile Ape Law · Professional profile
Records her current role and describes selected work. First-party experience statements remain attributed to this profile.
Compiled 25 September 2026. Source availability and legal requirements can change. Read the citation method.