Virtual Asset Businesses can be licensed in St. Vincent and the Grenadines. #
The Virtual Asset Business Act was enacted in 2022 to provide a legislative framework to regulate virtual asset products and virtual asset service providers. The FSA is responsible for regulating and supervising Virtual Asset Service Providers (VASPs’) and will monitor and oversee their business activities. The FSA will also monitor VASPs’ application of anti-money laundering and the counter-financing of terrorism measures. The other regulatory and supervisory functions and powers of the FSA include:
Promoting investor education that facilitates innovation;
Carrying out on-site inspections to ascertain whether VASPs are complying with the Act and the conditions of their licences/registrations; and Exchanging information with other supervisory bodies and law enforcement agencies.
