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Virtual Asset Service Providers Regulatory Measures

Section 34 of the Monetary Authority Act enables the Authority to issue or amend Rules, Statements of Guidance and Statements of Principle. In addition, Section 48 provides for the issuance of a Regulatory Handbook to contain the policies and procedures of the Authority in carrying out its regulatory and co-operative functions.

Below is an index of measures that contains a checklist for RulesStatement of PrinciplesStatements of GuidanceRegulatory PoliciesRegulatory Procedures and Forms that pertain to the Virtual Asset Service Providers sector.


Rules

A clear and precise directive issued to licensees on a subject matter that the Authority considers essential for the prudential supervision of regulated entities and which creates binding obligations on all licensees and for which a breach may lead to the imposition of a fine or regulatory action being taken against the licensee by the Authority pursuant to the exercise of its powers under the regulatory acts.

Statement of Principles (“SOP”)

Principles that set out the general standards for the conduct of business by all registered persons and licensees, in accordance with the regulatory act, which will be used by the Authority as a measure to assess compliance. 

Statement of Guidance ("SOG") 

Guidance intended to assist licensees to comply with relevant acts, regulations, rules and statements of principles or to describe standards for conduct of business. Guidance contains recommendations on how licensees should operate and represent a measure against which the Authority will assess compliance by licensees.

Regulatory Policy

A set of principles, a criteria, or approach to guide decisions and actions taken by the Authority in performing its regulatory and co-operative functions.

Regulatory Procedure 

A set of actions, activities or tasks that the Authority will carry out in performing its regulatory and co-operative functions.

 
Note: The following items marked with NEW have been recently added or updated.
LEGISLATION  click for link
  Rule SOP SOG Policy Procedure Form
REGISTRATION/ LICENSING            
List of Approved Stock Exchanges       View    
Approved Stock Exchanges       View    
Consolidated Supervision       View    
Fitness and Propriety       View View

Personal Questionnaire

 

Declaration of Source of Wealth & Source of Funds

BUSINESS CONDUCT            
Outsourcing (for Regulated Entities)     View      
Regulatory Policy - Criteria for Approving Changes in Ownership and Control       View    
Conduct for Virtual Asset Services   View        
Corporate Governance - (Effective: 14 October 2023) View          
Nature, Accessibility and Retention of Records     View      
Cybersecurity for Regulated Entities View   View      
Internal Controls (Effective: 14 October 2023) View   View      
REPORTING            
Reporting Schedule          

View NEW

Guidance Notes on the Prevention and Detection of Money Laundering, Terrorist Financing and Proliferation Financing in the Cayman Islands            
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