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
Active in the fintech landscape since 2017, the dedicated Walkers’ team are recognised as global leaders in this dynamic sector -
Fluent in six important jurisdictions of choice, we take a jurisdiction agnostic approach,...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
Following industry consultation, on 30 August 2023 the Cayman Islands Monetary Authority ("CIMA") issued updated Guidance Notes on the Prevention and Detection of Money Laundering, Terrorist Financing and Proliferation...more
9/15/2023
/ AML/CFT ,
Anti-Fraud Provisions ,
Anti-Money Laundering ,
Cayman Islands ,
CIMA ,
Cybersecurity ,
Due Diligence ,
Financial Services Industry ,
Guidance Update ,
Money Laundering ,
Policies and Procedures ,
Recordkeeping Requirements ,
Risk Assessment ,
Selfies ,
Videoconference
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
As widely expected, the British Virgin Islands ("BVI") is shortly bringing into force new legislation to implement the Financial Action Task Force's standards on virtual assets and virtual asset service providers (known as...more