Acting as regulatory counsel to Kraken on BVI VASP registrations

Our British Virgin Islands team recently acted as regulatory counsel to Kraken, on the successful registrations of four BVI entities as Virtual Assets Service Providers under the BVI Virtual Assets Service Providers Act 2022.
 
The registrations, granted by the BVI Financial Services Commission, authorise Kraken to provide regulated virtual assets services to clients operating through the jurisdiction. The approvals further strengthen Kraken’s global licensing platform and reinforce its presence in the BVI as part of its broader regulatory strategy.
 
We advised on all aspects of the application process, including regulatory analysis, engagement with the BVI Financial Services Commission and structuring considerations to support compliance with the evolving virtual assets framework.
 
Regulatory partner, Iona Wright, commented: 'We are delighted to have supported Kraken on securing these registrations. The BVI continues to demonstrate its commitment to a robust and pragmatic regulatory environment for virtual assets service providers, and these registrations underscore the jurisdiction’s position as a leading international financial centre for virtual assets businesses.'
 
Our team included partners Lucy Frew and Iona Wright alongside senior counsel Charlie Griffiths and regulatory consultant Gonzalo Fabrega.