1. FINTECH MARKET
1.1 Evolution of the Fintech Market
The government of the British Virgin Islands (BVI) and the BVI
Financial Services Commission (FSC) – the principal financial
services regulator – have progressed important initiatives in
recent years that demonstrate the BVI's unequivocal commitment
to digital transformation and fintech innovation.
Legislation Recognising Electronic Means
The BVI has passed recent legislation to support a digital
environment in the BVI and provide the means for the operation of
e-government services. This includes the Electronic Transactions
Act, 2021, the Electronic Transfer of Funds Act, 2021, and the
Electronic Filing Act, 2021. These Acts are designed to enhance the
BVI legal system to legally recognise the filing, creation or
retention of official documents with or by a government body by
electronic means. They also legally recognise the provision,
deliverance, retention, or access to information or documents
