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The Ministry of Financial Services of the Cayman Islands defined Virtual Asset Service Providers to include cryptocurrency service providers which include but not limited to cryptocurrency exchanges, wallet service providers amongst others.The Ministry of Financial Services of the Cayman Islands has announced that it has commenced the regulations of Virtual
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The Ministry of Financial Services of the Cayman Islands Government announced that it has commenced a regulatory framework for virtual asset service providers, or VASPs.In an Oct. 31 press release, the ministry claimed that the move had strengthened the country’s “ability to regulate and attract persons and entities that deal
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The Cayman Islands is building a regulatory framework for "virtual asset service providers" with some measures already enacted. Source
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[sociallocker id="55298"] The Marshall Islands’ project says its creation of a digital sovereign currency, named SOV, aims to be a “game-changer”. It could also pioneer how governments respond to crises such as the COVID-19 pandemic.In an exclusive interview with Cryptox, Joel Telpner, chairman of Sullivan’s Fintech and Blockchain Practice and
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On April 28, the legislative assembly of the Cayman Islands gazetted five new pieces of legislation governing crypto businesses — especially exchanges. How the new legislation would change the Cayman Islands’ crypto industryThe Virtual Asset Service Provider Bill would establish definitions and registration requirements for companies providing crypto services including exchanges,
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While major industry actors argue that central bank digital currencies (CBDC) are years or decades ahead, the Bahamas plan to adopt a CBDC no later than 2020.John Rolle, the governor of the Central Bank of the Bahamas (CBOB), has reportedly confirmed that the Bahamian digital dollar initiative will be
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It has been almost a year since the Republic of the Marshall Islands (RMI) unveiled the development of its national digital currency dubbed Sovereign (SOV). The cryptocurrency is set to tackle some issues the RMI struggles with, including high costs of remittances. A crypto legal tender could purportedly create
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In 2018, the Marshall Islands announced that it is working on developing a cryptocurrency that would effectively replace its current legal tender and become the official currency in the Oceanic republic. The new digital currency is called Sovereign Coin (SOV).Since the gradual rise of cryptocurrencies all the way back in
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An official from the Marshall Islands has published an essay explaining the country’s national cryptocurrency project ahead of the Invest: Asia 2019 conference.The issuance of the Marshallese sovereign (SOV) was discussed in an essay by The Honorable David Paul — Minister In-Assistance to the President and Environment of the
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