The British Virgin Islands is at the cutting edge of global crypto and digital asset regulation with the BVI Virtual Asset (Service Providers) Act, 2022 (VASP Act), effective 1 February 2023. This means virtual asset service providers (VASPs) within the regime must become registered with the BVI Financial Services Commission (BVIFSC).
The regime comprises:
- The VASP Act itself
- BVIFSC Guidance to VASPs on the prevention of money laundering, terrorist financing and proliferation financing (VASP AML Guidance Notes)
- BVIFSC Guidance on application for registration of a VASP (VASP Application Guidance)
In this practical guide, we set out what you need to know if your BVI entity is a VASP, how to prepare for and make an application to become registered, documents and information required, and fees and timings.
Is your BVI entity a VASP?
Our free initial assessment tool makes it easy to determine if your entity is or might be a VASP under the BVI AML and VASP regime.
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