Overview of crypto regulations

What compliance measures are Virtual Asset Service Providers (VASPs) in the Cayman Islands subject to?


  • According to CIMA (VASP FAQs)

    In addition to the VASP Law, all entities providing virtual asset services are required to comply with AML/CFT/CPF and Sanctions obligations including requirements under the Anti-Money Laundering Regulations (2020 Revision) and the Authority’s Guidance Notes (Amendment) (No. 5): Virtual Asset Service Providers, February 2020. A Statement of Principles for entities providing virtual asset services, to be issued by the Authority in due course, will also be applicable to all VASPs. The objective of the Statement of Principles is to provide a broad framework and guidance for the conduct of virtual asset activities in or from the Cayman Islands. The Statement of Principles will establish general standards by which all entities providing virtual asset services should conduct their business, and will be used as a measure against which the Authority will assess compliance for AML/CFT and prudential purposes, while the full VASP framework is developed and consulted on by the Authority.