You run an exchange serving the British Virgin Islands. Registration, staking treatment and transfer-information rules set the shape of your compliance year.
Information, not advice
This page is information, not legal advice about your matter. A retainer begins only when a lawyer confirms it.
Start here
Know which rules already apply to you, before you add anything new
Adding a service changes what your VASP registration with the BVI Financial Services Commission actually covers. Checking where you stand first is cheaper than correcting it later.
What to work through, in order
Registration and licensing
Registration with the BVI Financial Services Commission under the VASP Act, with categories covering exchange, custody and transfer services. Fit and proper testing and a compliance function are assessed as part of it.
Staking, lending and yield
Offering a return can turn the arrangement into investment business or a fund, either of which changes the registration position. How the return is generated matters more than how it is described.
Transfer information and record keeping
The Anti-Money Laundering Regulations and the VASP Act apply travel rule obligations, with records to be retained and suspicious activity reported to the Financial Investigation Agency.
Next steps
What happens if you go ahead
Scoping call
Written scope and fixed-fee quote
Engagement, once a lawyer confirms
Who would handle it
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