I’ve been looking into the crypto business and keep coming across the term “VASP license.” To be honest, I’d never even heard of it before a friend of mine started launching his own service and mentioned that there could be problems without it. He said it had something to do with regulations and requirements for companies that work with crypto assets. But there’s a lot of information out there, and it’s all over the place, so I’m a little confused. I’d like to understand in simple terms—what exactly is it, and how mandatory is it?