The BVI Virtual Asset Service Providers Act, 2022 (the Act) came into force on 1 February 2023. Under the Act, virtual asset service providers (VASPs) within the regime must become registered with the BVI Financial Services Commission.

The regime comprises:

• The VASP Act itself, here
• BVIFSC Guidance to VASPs on the prevention of money laundering, terrorist financing and proliferation financing, here
• BVIFSC Guidance on application for registration of a VASP

We have prepared a detailed legal guide which sets 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
• Fees and timings

View the guide here.