On 14 February 2023, Cayman Islands Monetary Authority (CIMA) issued a press release, advising all registered virtual assets service providers (VASPs) that, as outlined in Schedule 2 of the Virtual Asset (Service Providers) Regulations 2020, their 2023 annual renewal fees will be the same amount as the fee paid at the time of registration.
The Authority has granted an extension until 15 March 2023 for the payment of said fees, failing which penalties for non-payment will accrue as outlined in section 5(5) of the Virtual Assets (Service Providers) Act (2022 Revision).
Should you require any further information, please contact vaspinfo@cima.ky.
Other Features
crypto-assets
fees
payment services
penalties
Date Published: 2023-02-14
Date Taking Effect: 2023-03-15
Regulatory Framework: Virtual Asset Act, Virtual Asset Law
Regulatory Type: information
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