The Crypto-Asset Reporting Framework (“CARF”) is an international tax transparency standard developed by the Organisation for Economic Co-operation and Development (“OECD”). Introduced as an extension of the existing Common...more
1/8/2026
/ AML/CFT ,
Anti-Money Laundering ,
Blockchain ,
Cayman Islands ,
Common Reporting Standard (CRS) ,
Cross-Border Transactions ,
Cryptoassets ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Due Diligence ,
Exchange of Information ,
International Tax Issues ,
New Legislation ,
New Regulations ,
OECD ,
Registration Requirement ,
Regulatory Requirements ,
Reporting Requirements ,
Tokenization
The Cayman Islands government has made significant changes to the Common Reporting Standard (“CRS”) regime, as set out in the Tax Information Authority (International Tax Compliance) (Common Reporting Standard) (Amendment)...more
1/7/2026
/ Cayman Islands ,
Common Reporting Standard (CRS) ,
Compliance Monitoring ,
Cryptoassets ,
Digital Assets ,
Due Diligence ,
Enforcement Actions ,
Filing Deadlines ,
Financial Institutions ,
International Tax Issues ,
New Regulations ,
Penalties ,
Registration Requirement ,
Regulatory Requirements ,
Reporting Requirements ,
Residency Requirements
Our British Virgin Islands update explores how the Virtual Assets Service Providers Act (the "VASP Act") does not currently regulate the primary issuance of tokens and why this is beneficial to the jurisdiction's digital...more
12/22/2025
/ AML/CFT ,
Blockchain ,
British Virgin Islands ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
FinTech ,
Jurisdiction ,
New Legislation ,
Regulatory Oversight ,
Regulatory Reform ,
Regulatory Requirements ,
Stablecoins ,
Tokenization ,
Virtual Currency
The Cayman Islands continues to be one of the leading offshore jurisdictions for digital assets, with several market leaders and tier 1 projects being established in the Cayman Islands....more
12/18/2025
/ Anti-Money Laundering ,
Blockchain ,
Cayman Islands ,
CIMA ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Investment Funds ,
New Regulations ,
Private Funds ,
Regulatory Oversight ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements ,
Sandbox ,
Tokenization
Regulatory clarity in the digital assets and crypto space continues to be a moving target. Yet, the interest among policymakers and regulators worldwide has never been more pronounced....more
11/13/2025
/ AML/CFT ,
Anti-Money Laundering ,
Blockchain ,
Cayman Islands ,
CIMA ,
Crypto Exchanges ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
FinTech ,
Investment Funds ,
Licenses ,
Licensing Rules ,
New Legislation ,
Popular ,
Regulatory Oversight ,
Regulatory Requirements
Regulatory clarity in the digital assets and crypto space continues to be a moving target. Yet, the interest among policymakers and regulators worldwide has never been more pronounced....more
11/12/2025
/ Anti-Money Laundering ,
Anti-Terrorism Financing ,
Asset Protection ,
Blockchain ,
British Virgin Islands ,
BVI Business Companies ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Digital Ledger Technology ,
Financial Services Industry ,
FinTech ,
Jurisdiction ,
Offshore Funds ,
Popular ,
RegTech ,
Regulatory Oversight ,
Regulatory Reform ,
Sandbox ,
SIBA ,
Tokenization
This chapter provides the latest legal information on the British Virgin Islands' fintech market and regulation, including regulatory jurisdiction, sandboxes, AML rules and FATF standards; robo-advisers, online lenders and...more
The Virtual Assets Service Providers Act, 2022 (the “VASP Act”) came into force on 1 February 2023. The VASP Act regulates virtual asset service providers (“VASPs”) and requires that VASPs be registered with the BVI Financial...more
On 1 April 2025, several key updates will be made to the framework for the regulation of virtual assets in the Cayman Islands. These updates include the introduction and commencement of the VASP licencing framework for...more
Regulatory clarity in the digital assets and crypto space continues to be a moving target. Yet, the interest among policymakers and regulators worldwide has never been more pronounced. In the United States, 2024 was a pivotal...more
1/8/2025
/ AML/CFT ,
Anti-Money Laundering ,
Bitcoin Mining ,
Blockchain ,
British Virgin Islands ,
Compliance ,
Cryptocurrency ,
Digital Assets ,
FATCA ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
FinTech ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Securities Regulation ,
SIBA ,
Tax Authority ,
Taxation ,
Virtual Currency
Regulatory clarity in the digital assets and crypto space continues to be a moving target. Yet, the interest among policymakers and regulators worldwide has never been more pronounced. In the United States, 2024 was a pivotal...more
1/7/2025
/ Anti-Money Laundering ,
Blockchain ,
Cayman Islands ,
CIMA ,
Companies Act ,
Cryptocurrency ,
Digital Assets ,
Estate Planning ,
Fiat ,
FinTech ,
Investment Funds ,
Licenses ,
Money Transfer ,
Popular ,
Private Funds ,
Regulatory Oversight ,
Reporting Requirements ,
Sandbox ,
Securities ,
SIBA ,
Special Economic Zones ,
Taxation ,
Virtual Currency
Chris Duncan and Alistair Russell have authored the Cayman Islands chapter of Global Legal Insight's sixth edition guide to blockchain and cryptocurrency regulation. The chapter covers the Cayman legal requirements relating...more
11/22/2024
/ AML/CFT ,
Anti-Money Laundering ,
Bitcoin Mining ,
Cayman Islands ,
CIMA ,
Digital Assets ,
Estate Planning ,
Investment Funds ,
Limited Liability Company (LLC) ,
Reporting Requirements ,
Sandbox ,
SIBA ,
Stock Exchange ,
Taxation ,
Transfer of Assets ,
Virtual Currency
Carey Olsen has contributed to The Legal 500 Country Comparative Guide 2024 for Blockchain. The aim of this guide is to provide its readers with a pragmatic overview of the law and practice of blockchain law across a variety...more
11/20/2024
/ Anti-Money Laundering ,
Blockchain ,
Cayman Islands ,
Central Bank Digital Currency (CBDCs) ,
CIMA ,
Cryptocurrency ,
Decentralized Autonomous Organization (DAO) ,
Decentralized Finance (DeFi) ,
Initial Coin Offering (ICOs) ,
SIBA ,
Virtual Currency
Carey Olsen has contributed to The Legal 500 Country Comparative Guide 2024 for Blockchain. The aim of this guide is to provide its readers with a pragmatic overview of the law and practice of blockchain law across a variety...more
11/19/2024
/ Anti-Money Laundering ,
Blockchain ,
British Virgin Islands ,
Central Bank Digital Currency (CBDCs) ,
Cryptocurrency ,
Data Privacy ,
Decentralized Autonomous Organization (DAO) ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Digital Wallets ,
Economic Substance Doctrine ,
FATF ,
Financial Services Industry ,
Initial Coin Offering (ICOs) ,
Jurisdiction ,
Regulatory Standards ,
SIBA ,
Smart Contracts ,
Terrorism Funding ,
Virtual Currency
Our corporate team outline the latest developments within the corporate and finance market in Cayman including the amendments to the Beneficial Ownership Regime, winding up Cayman segregated portfolio companies, proposed...more
10/29/2024
/ Aircraft ,
Anti-Money Laundering ,
Beneficial Owner ,
Cayman Islands ,
CIMA ,
Corporate Governance ,
Digital Assets ,
Ministry of Finance ,
Mutual Funds ,
Partnerships ,
Popular ,
Portfolio Companies ,
Private Funds ,
Repossess ,
Segregated Portfolio Companies ,
SIBA ,
Terrorism Funding ,
Virtual Currency
Chris Duncan and Katrina Lindsay have authored the British Virgin Islands (BVI) chapter of Global Legal Insight's sixth edition guide to blockchain and cryptocurrency regulation. The chapter covers the BVI legal requirements...more
10/10/2024
/ Anti-Money Laundering ,
Blockchain ,
British Virgin Islands ,
BVI Business Companies ,
Cryptocurrency ,
Digital Assets ,
Digital Service Providers ,
Digital Wallets ,
Estate Planning ,
Financial Services Industry ,
Investment ,
Licensing Rules ,
Mining ,
Money Transfer ,
Popular ,
Regulatory Requirements ,
Reporting Requirements ,
SIBA ,
Succession Planning ,
Taxation ,
Testamentary Trust ,
Virtual Currency
A foundation company is a vehicle unique to the Cayman Islands. It has features akin to a company, retaining separate legal personality and limited liability, whilst functioning in a manner similar to a civil law foundation...more
10/8/2024
/ Beneficiaries ,
Bylaws ,
Cayman Islands ,
Companies Act ,
Corporate Structures ,
Directors ,
Private Trust Companies ,
Registration Fees ,
Tax Exemptions ,
Trustees ,
Trusts