BVI Virtual Asset (Service Providers) Act – a practical guideDownload pdf
01 Feb 2023
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.