Notice of Upcoming Implementation: VASP Financial Returns Form (2025-11-28)

Summary

This is a general industry notice from the Cayman Islands Monetary Authority (CIMA) announcing the release of a new VASP Financial Returns Form within its REEFS electronic filing system. The Form is designed to standardise periodic financial reporting by entities registered or licensed under the Virtual Asset (Service Providers) Act (2024 Revision). It becomes available and effective from 1 December 2025.

• Scope: Applies to all Virtual Asset Service Providers (VASPs) regulated by CIMA.
• Requirement: VASPs must complete and submit the new Form (form code VFR-051-84) via REEFS according to reporting periods set by the Authority.
• First submission deadline: Due 31 December 2025, covering the reporting period ending 30 September 2025.
• Extensions: CIMA states that no extensions will be granted for this initial submission.

The notice frames timely and accurate submission of the Form as a condition of ongoing registration or licensing, meaning failure to comply could have implications beyond a simple late-filing issue. It is part of CIMA's broader effort to enhance supervisory oversight of the virtual asset sector.

Key obligations

• Regulated VASPs must complete and submit the VASP Financial Returns Form (form code VFR-051-84) via the REEFS portal in accordance with reporting periods prescribed by CIMA.
• VASPs must submit the first Financial Returns Form by 31 December 2025, covering the reporting period ending 30 September 2025.
• No extensions will be granted for this Form's submission, so VASPs must ensure timely filing.
• VASPs must ensure accurate submission of financial returns as this is treated as a condition of ongoing registration or licensing.

Applies to

Virtual Asset Service Providers (VASPs)

Deadlines

• 1 December 2025: Effective date on which the VASP Financial Returns Form becomes available in the REEFS system.
• 31 December 2025: First reporting deadline for submission of the VASP Financial Returns Form, covering the reporting period ending 30 September 2025.