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.

Is cryptocurrency tax-free in the Cayman Islands?

The government of the Cayman Islands has not imposed any form of income, inheritance gift, corporation withholding, capital gains, or other similar taxes on digital assets. Holding Cryptocurrency for any period and transferring crypto is also tax-free in the country.

What does the Cayman Islands' New regulatory framework mean for cryptocurrency?

06-11-2020: The Cayman Islands announces a new regulatory framework to create a new legislative framework for cryptocurrency. which can attract more digital currency and blockchain companies to set up in the jurisdiction. 31-10-2020: The Country has announced a regulatory framework for “Virtual asset service providers” in the country.

Is Cayman Islands a crypto Heaven?

The Cayman Islands does not impose any taxes for all crypto transactions in the country. Hence it is known as Crypto heaven for both businesses and investors of the crypto market. Cayman Islands Monetary Authority imposes no corporate tax on businesses and no income tax nor capital gain tax on residents.