The Cayman Islands has updated its cryptocurrency regulatory framework with new licensing rules set to come into effect on April 1, 2025. Under the Virtual Assets (Service Providers) (Amendment) Regulations 2025, all entities providing virtual asset custody and trading platform services are required to obtain a license from the Cayman Islands Monetary Authority (CIMA). Existing virtual asset service providers (VASPs) must submit a license application within 90 days of the effective date.
As part of the application process, cryptocurrency custodians must disclose the type and amount of virtual assets they intend to hold for their clients, while trading platform operators are required to provide details on expected revenue and physical hardware locations.
The Cayman Islands has updated its cryptocurrency regulatory framework, requiring a CIMA license for virtual asset platforms to provide services
2025-03-10 09:36:02
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