The body in the British Virgin Islands (BVI) that regulates crypto-assets and related services is the Financial Services Commission (FSC). As the principal regulator of the financial services industry in the BVI, the FSC's...more
9/9/2025
/ AML/CFT ,
Anti-Money Laundering ,
Blockchain ,
British Virgin Islands ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Financial Services Industry ,
FinTech ,
New Legislation ,
New Regulations ,
Regulatory Oversight ,
Regulatory Requirements
Regulatory compliance for digital assets can vary across jurisdictions, affecting licensing, product launch speed and the viability of certain business models.
Product classification is critical; digital assets,...more
8/22/2025
/ Anti-Money Laundering ,
Blockchain ,
Cross-Border Transactions ,
Cryptoassets ,
Digital Assets ,
FinTech ,
Jurisdiction ,
Popular ,
Regulatory Oversight ,
Regulatory Requirements ,
Stablecoins
The GENIUS Act marks a major milestone in US digital asset regulation, particularly for stablecoins.
Jurisdictions like Bermuda, the British Virgin Islands (BVI) and the Cayman Islands are well-placed to meet increasing...more
The BVI is a preferred international jurisdiction for fintech businesses as it is a well-established investment centre with a comprehensive, commercial virtual assets regime, which provides businesses with legal certainty....more
6/18/2025
/ AML/CFT ,
Anti-Money Laundering ,
Blockchain ,
British Virgin Islands ,
Cryptocurrency ,
Digital Assets ,
Electronic Transaction ,
FinTech ,
FSMA ,
Investment Funds ,
Jurisdiction ,
Regulatory Requirements ,
SIBA ,
Stablecoins
Pending completion of its recommended actions under the BVI Mutual Evaluation Report published by the Caribbean FATF in February 2024, the BVI has been included on the FATF's list of "jurisdictions under increased...more
Prior regulatory approval is now required for MLRO appointments – previously it was a notification requirement that had to be submitted within 14 days of the MLRO appointment.
Firms in scope will now need to factor in...more
The government of the British Virgin Islands (“BVI”) and the BVI Financial Services Commission (“FSC”) – the principal financial services regulator – have progressed important initiatives in recent years that demonstrate the...more
9/25/2024
/ AML/CFT ,
Anti-Money Laundering ,
Beneficial Owner ,
Blockchain ,
British Virgin Islands ,
Compliance ,
Data Protection ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Economic Sanctions ,
Electronic Fund Transfer Act ,
FinTech ,
FSMA ,
Insurance Industry ,
Investment ,
Licenses ,
Misleading Statements ,
SIBA
New specific licensing grounds available under Cayman Islands and BVI Russia sanctions will pave the way for Cayman Islands and BVI investment funds and other entities to divest their frozen assets in Russia as well as remove...more
Approaches and developments -
The government of the British Virgin Islands (“BVI”) and the BVI Financial Services Commission (“FSC”) – the principal financial services regulator – have progressed important initiatives in...more
9/13/2023
/ AML/CFT ,
Blockchain ,
British Virgin Islands ,
Cross-Border Transactions ,
Cryptocurrency ,
Digital Assets ,
Financial Services Industry ,
FinTech ,
FSMA ,
Insuretech Sector ,
Non-Fungible Tokens (NFTs) ,
Peer-to-Peer ,
Popular ,
RegTech ,
SIBA
The Economic Substance (Companies and Limited Partnerships) Act, as amended (the "ESA"), requires BVI legal entities which engage in relevant activities to maintain economic substance in the BVI. Our 'Overview of the British...more
The British Virgin Islands (BVI) government has succeeded in its request for a supplementary review to more accurately reflect its current legislative status following the EU's decision last month to add the BVI to its list...more
The BVI Virtual Asset Service Providers Act (VASP Act) came into force on 1 February, providing clarity and certainty on the regulatory landscape for virtual asset services (VASPs) operating in or from within the BVI. ...more
2/20/2023
/ AML/CFT ,
Anti-Money Laundering ,
British Virgin Islands ,
BVI Business Companies ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
New Legislation ,
Recordkeeping Requirements ,
Terrorism Funding
The EU has announced it is has added the British Virgin Islands (BVI) to its list of non-cooperative jurisdictions for tax purposes. The BVI Government has since issued a statement highlighting that it has already introduced...more
The British Virgin Islands ("BVI") Data Protection Act, 2021 ("DPA") came into force on 9 July 2021. It was introduced so the BVI would have a data protection framework which is broadly similar to EU and UK standards. To...more
2/9/2023
/ BVI Business Companies ,
Data Breach ,
Data Integrity ,
Data Processors ,
Data Protection ,
Data Retention ,
Data Security ,
Disclosure Requirements ,
Enforcement ,
EU ,
General Data Protection Regulation (GDPR) ,
International Data Transfers ,
New Regulations ,
Personal Data ,
UK