Tortola, May 22, 2024 - BVI Finance will highlight the BVI Virtual Asset Service Providers Act (VASPA) legislation at the Consensus 2024 by CoinDesk Conference, positioning the BVI as the regulatory environment of choice for virtual asset businesses. BVI Financial Services Experts and Representatives from the BVI Financial Services Commission will be joining BVI Finance at the event, further showcasing the jurisdiction's commitment to fostering a robust and innovative regulatory framework for virtual assets.

Why Choose the BVI for Your Virtual Asset Business?

  1. BVI is a true one stop solution: BVI can now act as a true one stop solution for most crypto, blockchain or other digital projects. Allowing structures to be housed in a single jurisdiction with less complexity and associated savings.
  2. Low Incorporation and Maintenance Costs: Setting up and maintaining a virtual asset business in the BVI is cost-effective.
  3. Tax Neutrality: The BVI provides tax-neutral conditions for businesses.
  4. Access to a global talent pool: The BVI is home to a number of international businesses and professionals. This gives Fintech businesses access to a global talent pool of skilled and experienced employees.
  5. Corporate Flexibility: The BVI's flexible corporate legislation makes it a popular destination for businesses of all sizes. BVI companies are able to adapt to change quickly and easily, which gives them a competitive advantage in the global marketplace.

The BVI VASP Act: Leading the Way in Virtual Asset Regulation

The Virtual Asset Service Providers Act, 2022 (VASPA) came into force on February 1, 2023, making the BVI a leader in regulating cryptocurrencies and digital assets. Under the VASP Act, virtual asset service providers (VASPs) operating in or from within the BVI must register with the BVI Financial Services Commission and comply with the Act. VASPs include entities involved in virtual asset exchange and custody services.

BVI Finance invites attendees to visit our booth #1053 at Consensus 2024 to learn more about the BVI’s thriving virtual asset ecosystem.

For media inquiries or interview requests, please contact:

Adrianna Soverall, Marketing and Media Relations Coordinator, BVI Finance
Email: Phone: +1 (284) 852-1957

About BVI Finance: BVI Finance is the voice of the British Virgin Islands’ financial services industry; marketing and promoting its products and services, as well as managing and maintaining its excellent reputation as a premier offshore financial centre. With a focus on innovation, stability, and regulatory excellence, the BVI continues to attract virtual asset businesses seeking a supportive and forward-thinking environment.

Note: This press release is for informational purposes only and does not constitute legal advice.

For more information, visit BVI Finance and explore the link to our VASPA Brochure