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ARTICLE · 23 FEBRUARY 2021

Update: Virtual Asset Service Provider Regime

Maples Group
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The Virtual Asset Service Providers (Amendment) Act, 2020 ("VASP Amendment Act") is now in force, as of 15 January 2021.

Cayman IslandsTechnology
Christopher Capewell
Christopher Capewell
Martin Livingston
Martin Livingston
Anna Whaley
Anna Whaley
Patrick Head
Patrick Head
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VASP Transitional Provisions


The Virtual Asset Service Providers (Amendment) Act, 2020 ("VASP Amendment Act") is now in force, as of 15 January 2021.  The VASP Amendment Act supports the continuing implementation of Cayman Islands' virtual asset service provider regulatory framework by allowing persons engaged in the provision of virtual asset services ("VASPs") to continue operating as the provisions of the Virtual Asset (Service Providers) Act, 2020 (the "Act") are commenced.  Notably, the VASP Amendment Act brings the Virtual Asset (Service Providers) (Savings and Transitional) Regulations, 2021 ("Savings and Transitional Regulations") into effect.

The Savings and Transitional Regulations provide that:

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