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The new crypto licensing regulations of the Cayman Islands applies to both new and existing crypto firms, with all companies given until July 1, 2025, to comply. Companies that are already operating in the Cayman Islands will have until June 29, 2025, to submit their license applications.
The new crypto licensing regulations of the Cayman Islands for crypto custody and trading firms aims to strengthen regulations on Virtual Assets Service Providers (VASPs) to align the Cayman Islands with global financial and anti-money laundering standards.
The Cayman Islands is implementing mandatory licensing for crypto custody and trading firms
The stricter Crypto licensing regulations in the Cayman Islands may however disadvantage smaller crypto firms while benefiting larger, well-funded companies giving them a competitive advantage.
The stricter Cayman Islands crypto regulation and licensing rules aim to raise compliance standards in the Cayman Islands’ crypto sector, attracting established firms while filtering out those unable to meet the regulatory requirements.
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Cayman Islands implemented licensing rules for crypto companies
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