Financial Crime World

Compliance for Cryptocurrency and Blockchain in British Virgin Islands

The British Virgin Islands (BVI) has become a popular hub for Initial Coin Offerings (ICOs), attracting numerous companies seeking to raise capital through cryptocurrencies, tokens, and virtual assets. According to the European Corporate Governance Institute, ICOs have garnered over $18 billion from January 2014 to June 2018.

Why Choose BVI?

The BVI’s tax-neutral environment, investor privacy and confidentiality, and conducive business climate make it an attractive destination for businesses looking to launch new cryptocurrencies. The jurisdiction’s straightforward company registration process and modern corporate legislation promote flexibility and efficiency, making it easy for companies to set up and operate.

Regulatory Landscape

However, the regulatory landscape for cryptocurrencies in the BVI is complex and evolving. The Securities and Investment Business Act 2010, Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) Regulations, and Virtual Asset Service Provider (VASP) Act govern investment business activity and virtual asset issuance.

Compliance Requirements

Investors must navigate these regulations to ensure compliance with AML/CFT requirements and maintain the integrity of their investments. Our team provides comprehensive solutions for ICO issuers, including:

  • AML and Outsourced KYC Compliance Services: Ensure compliance with anti-money laundering and know-your-customer regulations.
  • Anti-Money Laundering Officers (AMLCO) and Money Laundering Reporting Officer (MLRO): Provide expert guidance on AML/CFT requirements.
  • Directorship and Officer Services: Offer director and officer services to ensure regulatory compliance.
  • Automatic Exchange of Information (AEOI) Reporting: Assist with AEOI reporting and provide expert advice on cryptocurrency regulations in the BVI.

Get Expert Guidance

Contact our BVI team to learn more about how we can help you navigate the complex regulatory landscape and ensure compliance for your cryptocurrency or blockchain venture in the British Virgin Islands.