The Cayman Islands implements licensing rules for crypto companies

British foreign territory Cayman Islands applied for licensing for CRIPTO CARDIDI and trade platforms, into force 1. April.

From 1. April, Updated Virtual Assets (Service Providers) (Amendment) Regulations, 2025 require That all firms provided by custody and trading services must receive permit, monetary management of Cayman, will monitor regulated companies. Existing suppliers must submit a license application within 90 days, with applications that described their cyber management, risk and protocol risk management.

In their applications, Cripto Cartodians must also provide “types and amounts of virtual property”, they will keep the reasons for their detention. As for trade platforms, they must specify expected income, as well as to indicate a location of hardware that supports their business. This indicates key changes for the operation of cryptic companies in Cayman Islands, which has historically had an open regulatory regimen.

British foreign territory initially conducted VASP Act 2020. years, demanding that Vasps are licensed or registered with CIMA. However, the main reason for putting this law in place was not necessarily Regulate the crypto industry alone. Rather it is primarily designed to prevent money laundering and financing terrorism. Now, with the new, the above regulations will take effect. April, it extends to the service provider of the CRIPTO.

From now on, 17 companies in Cayman Islands that are registered as VASPS including large names Cripto.com and BlockChain.com.