The VASP Act defines “Virtual Assets” as digital representations of value that can be digitally traded or transferred and can be used for payment or investment purposes. Digital representations of fiat currencies (which is...more
3/5/2025
/ Anti-Money Laundering ,
Blockchain ,
Cayman Islands ,
CIMA ,
Corporate Governance ,
Cryptocurrency ,
Digital Assets ,
FATF ,
FinTech ,
Licensing Rules ,
Popular ,
Regulatory Requirements ,
Risk Management ,
Sandbox ,
Stablecoins ,
Trading Platforms
In the First Edition of our Regulatory Disputes Series, digital assets and fintech topped our list of hot topics to watch for the future of offshore regulatory disputes. In this Fourth Edition, we provide an update on...more
1/24/2025
/ Cayman Islands ,
Compliance ,
Corporate Governance ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
FinTech ,
Popular ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Technology Sector
In recent years, the virtual asset industry has experienced exponential growth, bringing about innovations in digital payments, tokenisation and decentralised finance (Defi). While highly innovative, the volatile nature of...more
10/3/2024
/ Blockchain ,
Cayman Islands ,
Corporate Governance ,
Crisis Management ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Digital Service Providers ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Internal Controls ,
Popular ,
Regulatory Oversight ,
Risk Management ,
Tokenization ,
Trading Platforms ,
Transparency ,
Virtual Currency
A warm welcome to the Summer edition of Conyers Coverage. The whirlwind that is the Cayman Islands (re)insurance industry continues to blow with gusto! To keep you updated on recent developments, we include various items from...more
8/29/2024
/ AML/CFT ,
Anti-Money Laundering ,
Beneficial Owner ,
Cayman Islands ,
CIMA ,
Corporate Governance ,
Corporate Restructuring ,
Data Breach ,
Dispute Resolution ,
Economic Substance Doctrine ,
EU ,
Insurance Industry ,
NAIC ,
Personal Data ,
Popular ,
Regulatory Agenda ,
Regulatory Requirements ,
Reinsurance
Welcome to the second instalment of 2024 of the Regulatory & Risk Advisory Review. In this edition we cover several Cayman Islands regulatory updates including updates to the Beneficial Ownership Transparency Act, the...more
7/23/2024
/ Anti-Money Laundering ,
Beneficial Owner ,
Cayman Islands ,
CIMA ,
Common Reporting Standard (CRS) ,
Corporate Governance ,
Corporate Transparency Act ,
Digital Assets ,
Dispute Resolution ,
FATCA ,
FATF ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Fund Managers ,
Insolvency ,
Investment Funds ,
Policies and Procedures ,
Popular ,
Private Equity ,
Proceeds of Crime Act 2002 (POCA) ,
Regulatory Agenda ,
Regulatory Requirements ,
Venture Capital
The Cayman Islands Monetary Authority (“CIMA”) has issued a regulatory policy (the “Policy”) outlining the criteria for approving Registration or Licensing of Virtual Asset Service Providers (“VASPs”).
The Policy applies to...more
7/19/2024
/ Cayman Islands ,
CIMA ,
Digital Assets ,
FinTech ,
License Applications ,
Policies and Procedures ,
Popular ,
Registration Requirement ,
Regulatory Agenda ,
Regulatory Requirements ,
Trading Platforms
The Financial Services Institute in collaboration with Conyers, Grant Thornton and Cayman Finance hosted its fourth comprehensive training seminar on “Preparing for an Onsite Inspection from the Cayman Islands Monetary...more
5/24/2024
/ Business Entities ,
Cayman Islands ,
CIMA ,
Corporate Governance ,
Corporate Investigations ,
Corporate Management ,
Financial Regulatory Reform ,
Financial Services Industry ,
Inspections ,
Policies and Procedures ,
Popular ,
Regulatory Agenda ,
Regulatory Oversight ,
Risk Management ,
Strategic Planning
Welcome to the first instalment of 2024 of our Cayman Islands Regulatory & Risk Advisory Review. As we cover in this issue, there have been a number of updates in the first quarter of the year. Perhaps most notably is the...more
5/1/2024
/ AML/CFT ,
Anti-Money Laundering ,
Beneficial Owner ,
Cayman Islands ,
CIMA ,
Companies Act ,
Corporate Governance ,
EU ,
EU Transparency Directive ,
FATF ,
Financial Institutions ,
Financial Regulatory Agencies ,
Financial Regulatory Reform ,
General Licenses ,
Legislative Agendas ,
Popular ,
Regulatory Agenda ,
Sanctions ,
UK