In 2023, Jersey and the British Virgin Islands passed
legislation indicating they were welcoming virtual asset service
providers, joining the likes of the Cayman Islands as regulated
virtual asset friendly jurisdictions.
Asian Legal Business was keen to hear from our experts on how
this will allow virtual asset services providers
(VASPs) to anchor in theses jurisdictions, despite
increased regulatory burdens, compliance costs and stringent
penalties.
Part one covers the key provisions of each piece of legislation,
the challenges financial service providers should expect, and the
incentives of these jurisdictions.
The Jersey perspective was provided by partner Alexander Curry,
the view from Cayman by counsel Chris Wall, and from BVI by
managing associate David Mathews.
