TechFlow news, March 10 — According to BTCTN, the Cayman Islands have updated their cryptocurrency regulatory framework, with new licensing rules set to take effect on April 1, 2025.
Under the Virtual Assets (Service Providers) (Amendment) Regulations 2025, all entities providing virtual asset custody and trading platform services in the jurisdiction will be required to obtain a license from the Cayman Islands Monetary Authority (CIMA).
Existing Virtual Asset Service Providers (VASPs) must submit their license applications within 90 days after the effective date.
As part of the application process, cryptocurrency custodians must disclose the types and amounts of virtual assets they intend to hold for clients, while trading platform operators must provide detailed information regarding projected revenues and the physical locations of their hardware infrastructure.
