Basel highlights key lessons from recent Wolfsberg Group discussions on VASPs, urging stronger trust, standardised DD, and better information sharing with banks to safely integrate virtual assets

It explains that banks are cautious about onboarding VASPs due to persistent uncertainty around risks and compliance expectations, and that clearer regulatory guidance — particularly on stablecoins and permissible information sharing — could help bridge this gap. Speakers emphasised the need for common language, risk‑based due diligence frameworks, and structured tools such as standardised questionnaires to align risk appetites and due diligence processes between banks and VASPs.