Are cryptocurrencies accepted in the Cayman Islands?

V irtual assets in the Cayman Islands are accepted and digital representations of value that can be electronically traded and used for investment purposes. The Cayman Islands are the most popular jurisdictions in the world for blockchain-related businesses and cryptocurrency funds.

Why is the Cayman Islands a magnet for crypto investors?

With this in mind, it’s no wonder that the Cayman Islands has quickly become a magnet for leading crypto investors and asset managers. With $4.2 billion raised by blockchain companies registered here, this jurisdiction has raised more funds from ICOs than any other in the world.

Why is the Cayman Islands a good place to invest?

Each of the Cayman Islands Government, the Cayman Islands Monetary Authority (“ CIMA ”), and industry bodies such as Cayman Finance and the Cayman Islands Blockchain Foundation, acknowledge the importance of continuing to attract fintech and digital assets business to the jurisdiction and ensuring the further growth of the sector.

Are virtual asset service providers attracting crypto businesses to the Cayman Islands?

The Cayman Islands recently announced Virtual asset service providers to attract crypto businesses to the country. The VASP law came into effect in 2020, In addition to VASP law, the Cayman Islands Monetary Authority announced the opening of registration or notification for entities willing to provide virtual asset services.