If you want to know how to apply for an authorization in the field of digital assets, in this article we explain everything you need to know to do so, so take note!

Entities acting in Andorra in the field of digital assets will have to apply for authorization to the Andorran Financial Authority (AFA) for those activities required by the Law on digital assets 24/2022. But how to perform this procedure?

First and foremost and before initiating any procedure, a Veedor Digital must be appointed as indicated in the same Law on Digital Assets and Decree 478/2022, of 23-11-2022, which approves the regulations for the development of the requirements for exercising as a Veedor Digital, the obligations of the Veedor Digital and the disciplinary and sanctioning regime.

• Veedor Digital? Let's start by defining this figure

A veedor digital is a natural or legal person who, in accordance with the Law on digital assets, is entrusted with registered, either as a Veedor Digital or as a representative, must be a lawyer or chartered economist in accordance with the provisions of the Law on digital assets, either for the procedure of obtaining a license for the start of activity or for a case of regularization of the activity, as well as other functions to be developed by regulation.

The natural person who is registered, either as a Veedor Digital or as a representative, must be a lawyer or chartered economist in accordance with the provisions of the Law on digital assets.

• How can I know who are the registered Digital Viewers in Andorra?

It is very easy to find out who are the registered digital veedores in Andorra. The register is public, and the Andorran Financial Authority (AFA) allows through its website the consultation process. The AFA must keep an updated register of digital veedores that includes, as a minimum, information on the registration number, name or company name, address, type and, if applicable, the representative of the digital veedor in the form of a company.

However, at present, there is still no official list of Veedores, although the third transitory provision of the Law on Digital Assets foresees a term of three (3) months for its creation.

• And from when can I apply for an authorization in the field of digital assets?

The Law limits the entry of new applications for authorization to the creation of the Register of Veedor Digitals. Prior to the creation of this registry, no new applications for authorization may be submitted.

However, for the specific case of digital veedores, license applications can already be entered in the Andorran Financial Authority (AFA). In the following link, you can consult the procedure for the creation of this figure in the website of the AFA: Veedors — AFA – Autoritat Financera Andorrana.

Do you need help or have doubts about the application of the Law on Digital Assets and its development regulations? Our team can help you if you have any doubt or need clarification, do not hesitate to contact us.