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...Laundering Regulations (2023 Revision); Section 2 Virtual Asset (Service Providers) Act (2024 Revision) “ beneficiary ”, in relation to a transfer of virtual asset...

Requirements: virtual asset trading platforms

General requirements for virtual asset service providers

Application for virtual asset service licence

Decisions by the Authority to approve issuance of virtual assets

Requirements: virtual asset custody services

Registered person: virtual asset issuance

Meaning of “virtual asset service provider”

... action that may be instituted or taken against a virtual asset service provider, if at any time it appears to the Authority that a virtual asset service provider ...

The Authority may revoke a virtual asset service licence or a sandbox licence where it is of the opinion that — the licensee has failed to c...

...the respective licence, a licensee who operates a virtual asset trading platform may issue virtual assets on its own behalf directly to the public over the prescri...

...erson shall not carry on, or purport to carry on, virtual asset service in or from within the Islands unless that person — is a registered person; in the case of t...

The Authority may require — Virtual Asset (Service Providers) Act (2024 Revision) Section 19 a person applying to be registered or a register...

...ject to subsection , a sandbox licensee that is a virtual asset service provider shall comply with all requirements applicable to virtual asset service providers i...

The Authority, in making a decision to grant a virtual asset service licence or a sandbox licence, to register an applicant or to waive a requirement to licence...

...l — maintain a general review of the provision of virtual asset services in the Islands, including taking reasonable measures to identify persons, including natura...

Where the Authority is of the opinion that a virtual asset service provider is — carrying out, or about to carry out, an act that is an unsafe or an unsound p...

...y determines that — the sandbox licensee who is a virtual asset service provider has contravened the Anti-Money Laundering Regulations (2023 Revision) ; or the vir...

...regulations may in respect of registered persons, virtual asset service licensees or sandbox licensees — specify standards for the form and content of any advertis...

... January, 2024. Kim Bullings Clerk of the Cabinet Virtual Asset (Service Providers) Act (2024 Revision) ENDNOTES ENDNOTES Table of Legislation history: SL # Law/ A...

... — at the commencement of this Act is carrying on virtual asset service for which a licence is not required under this Act ; or wishes to carry on virtual asset se...

An existing licensee who wishes to carry on virtual asset service shall notify the Authority, in the manner specified by the Authority, advising of the natur...

A virtual asset service licensee shall have its accounts audited annually or at such times as the Authority may req...

A person who carries on, or purports to carry on, virtual asset service in or from within the Islands for which registration is required who is not a registered pe...

This Act may be cited as the Virtual Asset (Service Providers) Act (2024 Revision) and came into operation in accordance with the Virtual Asse...

...to, the nature, size, scope and complexity of the virtual asset service or fintech service set out in the application less the assessment fee. The application fee ...

...icensee where the Authority determines that — the virtual asset service does not materially change the nature of the activity for which the existing licensee is li...

...er section 25 ; for refusal of an application for virtual asset issuance; and for refusal of an application of an existing licensee to engage in virtual asset serv...

The Authority may require a virtual asset service provider to apply for a licence under any of the other regulatory laws, where the registere...

...try of Financial Services and Home Affairs (FSHA) Virtual Asset (Service Providers) A ct (2024 Revision) Arrangement of Sections VIRTUAL ASSET (SERVICE PROVIDERS) ...