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
What is the Travel Rule? The virtual asset “Travel Rule”, formally known as the “Financial Action Task Force (FATF) Recommendation 16”, requires Virtual Asset Service Providers (VASPs) to share and hold specific customer...more
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