Regulatory Round-Up

Effective 8 July 2025, the current VASP application form, APP 101-84-05, has been amended to streamline the application process for registration, licensing and waivers. The updated form incorporate additional questions and clarifies document requirements for all applicants. Read more →

On 27 June 2025, the Cayman Islands Government passed the Virtual Asset (Service Providers) (Amendment) Act, 2025. The Act addresses the situation of tokenised funds and is a welcome update for the VASP sector. Read more →

CIMA has published updated Regulatory Policies in relation to virtual asset service providers (“VASPs”) and deposit-taking institutions which are effective 23 May 2025. Regulated entities operating in these sectors should ensure that they are familiar with the new requirements and where necessary seek advice to ensure they are compliant with all aspects of the Regulatory Policies. Read more →

On 23 May 2025, CIMA released its Private Sector Consultation Paper on a newly proposed Rule and Statement of Guidance on Market Conduct (the “RSOG”) for Virtual Asset Services Providers (the “Consultation”). The newly proposed measure builds on CIMA’s earlier Statement of Principles – Conduct for VASPs as well as recent amendments to the Virtual Asset (Service Providers) Act (As Revised) (the “VASP Act”). Read more →

On 2 January 2025, sections 11, 12 and 13 of the Proceeds of Crime (Amendment) Act, 2023 came into force amending sections 133,134 and 135 of the Proceeds of Crime Act (As Revised) (“POCA”) such that those filing a suspicious activity report (“SAR”) in the Cayman Islands are now required to comply with a UK-styled defence against money laundering/consent regime (“DAML / Consent Regime”). Read more →

In late June 2025, the Cayman Islands Department for International Tax Cooperation (“DITC”) posted a new Updates Bulletin. Read more →

Effective 30 June 2025, the Cayman Islands Monetary Authority (“CIMA”) has relocated. Read more →