The Cayman Islands took a step towards becoming one of the preferred locations for blockchain based companies last week when legislative assembly passed the Virtual Asset (Service Provider) bill 2020.
The Cayman Islands Government has announced that the Virtual Asset (Service Providers) Law, 2020 (the “VASP Law“) will come into force in two phases. Phase one, commencing on 31 October 2020, will focus on anti-money laundering (AML) and countering the financing of terrorism (CFT) compliance, supervision and enforcement. Phase two, which will include licensing requirements […]
GRAND CAYMAN 03-Nov-2020 – The Cayman Islands Government has introduced a regulatory framework for Virtual Asset Service Providers (VASP). This framework will be introduced in two phases, with the first stage beginning on October 31st, 2020. The initial phase will concentrate on anti-money laundering (AML) and countering the financing of terrorism (CFT) measures. VASPs that […]
Bitcoin and other cryptocurrencies have led to enormous wealth being generated, rapidly taking individuals from modest means to the realms of the ultra-wealthy. This almost overnight wealth creation is likely to have a significant impact on the traditional private wealth industry as cryptocurrency holders take steps to protect their assets and will lead to new […]