Virtual Asset (Service Providers) (Amendment) Act, 2024 (Commencement) Order, 2025 (SL 17 of 2025)

Summary

This Order is a commencement instrument made by the Cayman Islands Cabinet that brings specified provisions of the Virtual Asset (Service Providers) (Amendment) Act, 2024 (Act 22 of 2024) into force. It does not itself create new substantive rules; rather it fixes the date on which certain sections of the amending Act take legal effect.

The Schedule lists the provisions being commenced, all of which come into force on 1 April 2025. Other provisions of the 2024 Amendment Act not listed in the Schedule are not brought into force by this Order.

• Sections 1-12
• Sections 14-15
• Section 16 (as it relates to virtual asset licences, registrations and waivers)
• Section 17
• Section 18 (as it relates to virtual asset licences, registrations and waivers)
• Sections 19-26

Because this is a commencement order rather than a substantive amendment, readers should consult the underlying Virtual Asset (Service Providers) (Amendment) Act, 2024 itself to understand what obligations the newly-commenced sections impose (for example, changes to licensing, registration or waiver requirements for virtual asset service providers). This Order's practical effect for compliance purposes is simply to confirm that those changes are now legally operative as of 1 April 2025.

Applies to

virtual asset service providers

Deadlines

• 1st April, 2025: Date on which the specified provisions of the Virtual Asset (Service Providers) (Amendment) Act, 2024 (Sections 1-12, 14-15, 16 (in part), 17, 18 (in part), and 19-26) come into force.

Related documents

• This document commences Virtual Asset (Service Providers) (Amendment) Act, 2024 (Act 22 of 2024)
• This document is made under Virtual Asset (Service Providers) (Amendment) Act, 2024 (Act 22 of 2024)