We are alerting clients to the following important developments to virtual assets regulation in the Cayman Islands:
- The Virtual Asset (Service Providers) (Amendment) Act, 2024 (the "VASP (Amendment) Act");
- The Cayman Islands Monetary Authority ("CIMA") Rule on Obligations for the provision of virtual asset services for Virtual Asset Custodians and Virtual Asset Trading Platforms (the "Rule");
- The CIMA statement of guidance for the provision of virtual asset services for Virtual Asset Custodians and Virtual Asset Trading Platforms (the "Statement of Guidance"); and
- The Virtual Asset (Service Providers) (Amendment) Bill, 2024 (the "VASP (Amendment) Bill")
Please contact your usual Maples Group contact or any of the below contributors if you require regulatory advice or assistance meeting your obligations under the VASP (Amendment) Act and related Rule and Statement of Guidance.