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ARTICLE · 07 OCTOBER 2026

British Virgin Islands Digital Assets - October 2026 Update

Carey Olsen
Carey Olsen
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Carey Olsen

Carey Olsen

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The British Virgin Islands is advancing its position in the digital assets space through the implementation of CRS 2.0 and progress towards CARF, while single-asset, closed-ended vehicles are gaining traction for tokenised funds and blockchain projects. These regulatory developments and structural innovations are reshaping how crypto assets and real world asset tokenisation projects can be efficiently structured in this jurisdiction.

British Virgin IslandsFinance and Banking
Katrina Lindsay
Katrina Lindsay
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Updates relating to the BVIs implementation of CRS 2.0 and CARF 

The Crypto-Asset Reporting Framework (CARF) and the Common Reporting Standard (CRS) are initiatives developed by the Organisation for Economic Co-operation and Development (OECD), aimed at enhancing global tax transparency through the automatic exchange of financial account information. Whilst CRS was originally launched to cover traditional financial accounts, the updated CRS 2.0 and CARF, unveiled as part of a major OECD reform in 2023, are intended to address the gaps that have formed as the financial landscape has rapidly evolved, most notably with the rise of digital financial products and crypto assets. 

CRS 2.0

The British Virgin Islands (BVI) introduced CRS 2.0 with effect from 1st January 2026, with reporting to the BVI International Tax Authority (ITA) due by May 2027.

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