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Crowdfunding is a method of raising capital by soliciting small contributions from a large number of people, typically through online platforms. This approach utilizes the power of the internet and social media to connect entrepreneurs or project creators with potential supporters or investors.

The term VASP or Virtual Asset Service Provider was introduced in 2019 by the intergovernmental organization FATF (Financial Action Task Force) as part of the publication of recommendations on a risk-based approach in the field of cryptocurrencies and virtual assets to denote providers of crypto-oriented services.

The term CASP was first introduced in 2020 as part of the publication of the draft regulation 2019/1937 Markets in Crypto-assets (MiCa), the goal of which is to create a unified legal framework for regulating the cryptocurrency and virtual asset industry within the European Union. Before this, the term VASP or Virtual Asset Service Provider was mainly used to designate crypto companies. It was introduced as part of the Financial Action Task Force (FATF) recommendations and guidelines a few years earlier.

No separate TIN in Estonia? Understand how personal and registration codes fulfill the Tax Identification Number role.

The EORI (Economic Operators Registration and Identification) number is a unique identification number provided to companies and individuals (economic operators) involved in the activities related to export or import of goods from or to the territory of the European Union. The EORI number is used for identification of economic operators and makes the data exchange between enterprises and customs authorities easier.