Virtual Asset Service Providers Legislation Published

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14 January 2021

Amendment Act and corresponding regulations to take effect 15 January 2021

The Cayman Islands Government published the Virtual Asset Service Providers (Amendment) Act, 2020, Virtual Asset (Service Providers) (Amendment) Act, 2020 (Commencement) Order, 2021 and the Virtual Asset (Service Providers) (Savings and Transitional) Regulations, 2021 this month.

The Virtual Asset Service Providers (Amendment) Act, 2020 supports the continuing implementation of Cayman’s VASP regulatory framework by allowing persons engaged in virtual asset services to continue operating as the provisions of the Act are commenced.

The Virtual Asset (Service Providers) (Amendment) Act, 2020 (Commencement) Order, 2021 brings into force the Virtual Asset Service Providers (Amendment) Act, 2020 on Friday, 15 January 2021.

The Virtual Asset (Service Providers) (Savings and Transitional) Regulations, 2021 also comes into effect on 15 January. The regulations state the various implementation deadlines in effect.

You can find more information on Cayman’s VASP regulatory framework here.

For more information, please contact financialservices@caymangov.ky

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