Crypto Companies

Crypto Companies in St. Vincent and the Grenadines

The Virtual Assets Business Act 2022 (“the VABA”) was passed in St. Vincent and the Grenadines in 2022. The Act seeks to provide for the registration and supervision of virtual asset business in or from St. Vincent and the Grenadines and with persons in St.

Vincent and the Grenadines and for related matters.

Pursuant to Section 2 of the VABA, “Virtual Asset” and “Virtual Asset Business” are defined as follows.

The definitions for each category are as follows :

Virtual Asset:

Means a digital representation of value that can be digitally traded, or transferred, and can be used for payment or investment purposes and does not include digital representations of fiat currency or security;

Virtual Asset Business:

Means the conduct of one or more of the following activities or operations for or on behalf of another person-

  1. Exchange between a virtual asset and fiat currency
  2. Exchange between one or more forms of virtual assets;
  3. Transfer of a virtual asset whether or not for value;
  4. Safekeeping or administration of a virtual asset or instruments enabling control over a virtual asset; and
  5. participating in and provision of financial services related to an issue or sale of a virtual asset.
The VABA has not yet been proclaimed by the Governor General and as a result, the Act is not yet in force, however we do anticipate that it would be in force during the course of 2024