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ARTICLE · 20 NOVEMBER 2024

Bills Now Published On Revenue Measures, Virtual Assets

Cayman Islands Government
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Grand Cayman, 19 November 2024 – Bills to implement Government's revenue-raising measures, and a Bill to implement phase 2 of the regulatory framework for virtual asset services in the Cayman Islands

Cayman IslandsFinance and Banking
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Grand Cayman, 19 November 2024 – Bills to implement Government's revenue-raising measures, and a Bill to implement phase 2 of the regulatory framework for virtual asset services in the Cayman Islands, were published on Friday, 15 November 2024 in the Cayman Islands Legislation Gazette.

The Bills were developed following a comprehensive review of fee structures by the Ministry of Financial Services and Commerce, General Registry, and the Cayman Islands Monetary Authority (CIMA), which found that some fees had not been adjusted in five to 10 years, or more. Industry's feedback also was sought on the regulatory revenue proposals.

Certain Bills introduce fees, while others validate and raise fees previously charged by CIMA and General Registry:

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