Legislation came into force on 31 October requiring virtual asset service providers (VASPs) in the Cayman Islands to apply for registration before 1 February 2021. The Virtual Asset (Service Providers) Law 2020 also requires VASPs providing custody services or operating virtual-asset exchanges to register with the Cayman Islands Monetary Authority (CIMA), but the licensing regime is not yet in force. Cayman Islands entities wishing to perform virtual-asset services for the first time after 31 October 2020 must register beforehand. CIMA has encouraged VASPs to commence the registration process as soon as possible, ideally before 12 December 2020.

News Source：【Harneys 2020/11/04】