Activity in the fintech sector continues to be strong. There is
ongoing interest in establishing vehicles in both the Cayman
Islands and the BVI. While the Cayman Islands has established a
virtual asset service provider regulatory framework, this has been
welcomed by industry participants looking for established
regulations to frame their business under. In the BVI, there is
currently no dedicated virtual asset regulatory regime and this
continues to be a popular jurisdiction for virtual asset connected
activity.
However, we expect that a virtual asset regulatory regime will
be introduced in the BVI during 2022 so all entities operating in
the BVI should keep these developments under review.
