Commencement of Cayman Islands Virtual Asset (Service Providers) Law, 2020

The Cayman Islands government has now issued a commencement order for the Virtual Asset (Service Providers) Law, 2020 (“VASP Law”) which will come into effect on 31 October, 2020 (the “Commencement Order”). The VASP Law provides a short, accessible, technology neutral and adaptable framework for the regulation of the provision of virtual asset services. Pursuant to the Commencement Order, there will be a phased approach to the implementation of the VASP Law as described in this advisory.

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