The Cayman Islands Monetary Authority (CIMA) has begun a consultation on draft rules and guidance for virtual asset service providers (VASPs).
A VASP offers assets to clients such as cryptocurrency, digital assets, convertible virtual currency, and NFTs.
The current consultation follows the January 2021 introduction of a compulsory licensing regime for VASPs under the Virtual Asset (Service Providers) Act 2020 (the VASP Act).
The new proposed rules will look to su...
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