Purpose
Translate the VASP Ordinance into a testable BCMS requirement for determining whether Bitkaya activities fall within the regulated VASP perimeter.
Normative
Bitkaya shall maintain a documented assessment of its virtual asset activities, service types, customer-facing services and issuer activities to determine whether they fall within the definitions and scope of the VASP Ordinance.
Descriptive
The assessment should cover virtual assets, virtual asset service provider activities, exchange, transfer, custody or management of virtual assets or access means, participation in issuance-related financial services, advisory services, order handling, placement and issuance. The assessment should be refreshed when products, services, jurisdictions, FATF definitions or CBCS rules change.
Source reference: VASP Ordinance, Articles 1, 2 and 61 through 67; commencement instrument Publicatieblad A 2025 No. 91, Article 1.
Assurance Assertions
- A current VASP applicability assessment exists.
- The assessment maps each relevant Bitkaya activity to the ordinance definitions.
- Changes in products, services or regulatory definitions trigger reassessment.
Relationships
- Source: SRC-VASP-001 Landsverordening toezicht virtuele activa dienstverleners
- Policies: POL-AML-001 AML CTF CPF Compliance Manual, POL-ECM-001 Enterprise Compliance Manual
- Processes: PRC-FCI-001 Financial Crime and Integrity, PRC-OTC-001 High-Level Overview of Principal OTC Service Delivery
- Procedures: PROC-AML-001 Maintain AML Risk Assessment and SARA Calibration, PROC-AML-002 Perform Client Acceptance CDD EDD and Risk Classification, PROC-AML-006 Apply Travel Rule and Counterparty VASP Due Diligence, PROC-AML-010 Review AML Policy and Proportionality Implementation
- Controls: CTRL-MCT-001 Ensure Market Conduct Governance Permissions and Risk Are Current
- Systems: not yet assigned; tracked under ISS-VASP-001
- Issues: ISS-VASP-001
- Publications: pending
Assurance
- Source verified: yes
- Implementation linked: partial; mapped to current BCMS implementation objects while detailed VASP coverage remains planned
- Wording unambiguous: review
History
- 2026-07-25: Created from SRC-VASP-001, including embedded commencement details.
- 2026-07-26: Added policy, process and procedure mappings; detailed VASP implementation remains planned.