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ARTICLE · 25 JANUARY 2021

Virtual Asset Service Providers Legislation Published

Amendment Act and corresponding regulations to take effect 15 January 2021.

Cayman IslandsTechnology

The Cayman Islands Government published the Virtual Asset Service Providers (Amendment) Act, 2020, Virtual Asset (Service Providers) (Amendment) Act, 2020 (Commencement) Order, 2021 and the Virtual Asset (Service Providers) (Savings and Transitional) Regulations, 2021 this month.

The Virtual Asset Service Providers (Amendment) Act, 2020 supports the continuing implementation of Cayman's VASP regulatory framework by allowing persons engaged in virtual asset services to continue operating as the provisions of the Act are commenced.

The Virtual Asset (Service Providers) (Amendment) Act, 2020 (Commencement) Order, 2021 brings into force the Virtual Asset Service Providers (Amendment) Act, 2020 on Friday, 15 January 2021.

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