According to online reports, according to Caixin.com, Guotai Junan International applied for approval for a "Virtual Asset Service Provider"(VASP) license, which is based on the original Type 1 license, upgrades and increases the scope of virtual asset transactions, but this is not a "Virtual Asset Trading Platform"(VATP) license, and these VASPs also need to be connected to VATP. Veterans in the encryption industry pointed out that VASP is a "virtual asset service provider" and VATP is a "virtual asset trading platform". There are obvious differences between the two. The former is directly involved in the trading and custody of virtual assets, so it is subject to stricter supervision, especially in terms of security measures, anti-money laundering and anti-terrorist financing compliance, and investor protection.