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ARTICLE · 06 JANUARY 2025

Virtual Assets In The Cayman Islands Update

Maples Group
Maples Group
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Maples Group

Maples Group

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We are alerting clients to the following important developments to virtual assets regulation in the Cayman Islands: The Virtual Asset (Service Providers) (Amendment) Act, 2024 (the "VASP (Amendment) Act").

Cayman IslandsFinance and Banking
Christopher Capewell
Christopher Capewell
Patrick Head
Patrick Head
Daniel Lee
Daniel Lee
Louise Cowley
Louise Cowley
Anthony Mourginos
Anthony Mourginos
Matthew Roberts
Matthew Roberts
Joanna Russell
Joanna Russell
Daniel Moore
Daniel Moore
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We are alerting clients to the following important developments to virtual assets regulation in the Cayman Islands:

  1. The Virtual Asset (Service Providers) (Amendment) Act, 2024 (the "VASP (Amendment) Act");
  2. The Cayman Islands Monetary Authority ("CIMA") Rule on Obligations for the provision of virtual asset services for Virtual Asset Custodians and Virtual Asset Trading Platforms (the "Rule");
  3. The CIMA statement of guidance for the provision of virtual asset services for Virtual Asset Custodians and Virtual Asset Trading Platforms (the "Statement of Guidance"); and
  4. The Virtual Asset (Service Providers) (Amendment) Bill, 2024 (the "VASP (Amendment) Bill")

The VASP (Amendment) Act

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