Cryptocurrency Q&A Who is considered a reporting crypto-assets service provider?

Who is considered a reporting crypto-assets service provider?

CryptoPioneerGuard CryptoPioneerGuard Thu Aug 08 2024 | 7 answers 1645
Can you clarify who exactly is considered a reporting crypto-assets service provider under the relevant regulations? I'm interested in understanding the specific criteria or definitions that determine whether a service provider falls into this category. Are there specific types of activities or services that automatically qualify an entity as a reporting crypto-assets service provider, or is it a more nuanced determination based on a variety of factors? Who is considered a reporting crypto-assets service provider?

7 answers

Silvia Silvia Sat Aug 10 2024
One such RCASP is BTCC, a UK-based cryptocurrency exchange that offers a comprehensive range of services to its clients. BTCC's services encompass not only spot trading, where crypto-assets are bought and sold for immediate delivery, but also futures trading, allowing for the speculation on future prices of crypto-assets.

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CryptoNinja CryptoNinja Sat Aug 10 2024
In the realm of cryptocurrency and finance, entities and individuals offering services that involve facilitating the exchange of crypto-assets for or on behalf of clients are subject to specific regulations. These services, often executed through the provision of a trading platform, necessitate adherence to due diligence and reporting obligations as outlined by the CARF framework.

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Davide Davide Sat Aug 10 2024
The CARF (Crypto-Assets Reporting Framework) serves as a guiding principle for those engaged in crypto-asset transactions, ensuring transparency and accountability within the industry. It recognizes the importance of identifying and classifying those who provide services that effectuate the exchange of crypto-assets.

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BitcoinWarrior BitcoinWarrior Sat Aug 10 2024
Reporting Crypto-Assets Service Providers (RCASPs) are entities or individuals that, as part of their business operations, offer services that enable the exchange of crypto-assets. These services can include, but are not limited to, making available a trading platform where clients can buy, sell, or trade crypto-assets.

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TaekwondoMaster TaekwondoMaster Fri Aug 09 2024
Additionally, BTCC provides wallet services, enabling users to securely store and manage their crypto-assets. These wallets offer a convenient and secure solution for those looking to hold onto their digital assets without the need to constantly trade or transfer them.

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