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Antigua and Barbuda

Retail_Trading_Status

Allowed-Regulated Unknown
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Created
2025-06-26 12:46
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Executive Summary

Antigua and Barbuda legally permits retail cryptocurrency trading and has established a regulatory framework through the Digital Assets Business Act (DABA) of 2020. The Financial Services Regulatory Commission (FSRC) is responsible for licensing and supervising Virtual Asset Service Providers (VASPs), ensuring compliance with KYC/AML procedures. Individuals are permitted to buy, sell, and hold cryptocurrencies, but are advised to exercise caution when using unlicensed platforms. The country also offers a favorable tax environment for crypto investors, with no personal income tax, capital gains tax, or inheritance tax.

Key Pillars

The regulatory framework is built upon the Financial Services Regulatory Commission (FSRC) as the primary regulator, overseeing digital asset businesses through licensing and ongoing monitoring. Core compliance requirements include Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, aligned with international standards set by the Financial Action Task Force (FATF). Entities conducting digital asset business must obtain a license from the FSRC, subject to regular audits and inspections.

Landmark Laws

  • Digital Assets Business Act (DABA), 2020:
    • Date of Issue: June 18, 2020.
    • Summary: Provides the legal basis for digital asset businesses, covering activities such as operating cryptocurrency exchanges, issuing or selling digital tokens, providing custodial wallet services, and facilitating digital asset payments. It mandates that entities conducting digital asset business must obtain a license from the FSRC. Subject to limited exceptions, the Act prohibits a person from carrying on digital asset business in or from within Antigua and Barbuda unless that person is a licensed undertaking in one of several specified classes.

Considerations

  • Cryptocurrencies are legally recognized assets subject to regulation under the DABA.
  • Antigua and Barbuda offers a favorable tax environment for crypto investors, with no personal income tax, no capital gains tax, and no inheritance tax on individuals.
  • The FSRC has issued advisories cautioning the public when dealing with unlicensed digital asset businesses or services not under its direct supervision, recommending caution until the appropriate legislative and regulatory framework is fully in place and operational.
  • Foreign exchanges accessible to Antiguan residents may not necessarily hold a specific license under Antigua and Barbuda's DABA, and enforcement against globally operating platforms is a complex issue.

Notes

  • In the past, the FSRC and the Eastern Caribbean Central Bank (ECCB) issued advisories regarding Bitcoin ATMs, noting that these services were not regulated by them at the time of the advisory.
  • Antigua and Barbuda has been involved in the Eastern Caribbean Central Bank's (ECCB) pilot project for a Central Bank Digital Currency (CBDC) called DCash, though the initial pilot was shut down in early 2024, and a "DCash 2.0" is planned for launch in the next 18 to 24 months from late 2023.
  • While it's not illegal for individual Antiguans to trade on platforms like Bybit, users should recognize that in case of disputes or problems with unlicensed platforms, they cannot appeal to the FSRC or other Antiguan authorities for help.

Detailed Explanation

Antigua and Barbuda has established a regulatory framework for digital assets, including cryptocurrencies, with the aim of being a crypto-friendly jurisdiction. The primary legislation is the Digital Assets Business Act (DABA), 2020, which became law on June 18, 2020. This Act governs digital asset businesses operating within or from within Antigua and Barbuda, covering activities like cryptocurrency exchanges, token issuance, custodial wallet services, and digital asset payments. The Financial Services Regulatory Commission (FSRC) is the primary regulatory body responsible for licensing and overseeing these businesses. The DABA mandates that entities obtain a license from the FSRC, which includes requirements for robust Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, aligning with international standards set by the Financial Action Task Force (FATF). Licensed platforms are subject to regular audits and inspections to ensure ongoing compliance. Individual citizens and residents are legally permitted to buy, sell, and hold cryptocurrencies. However, the FSRC has issued advisories cautioning the public when dealing with unlicensed digital asset businesses.

For instance, the FSRC and the Eastern Caribbean Central Bank (ECCB) have noted the establishment of Bitcoin ATMs and advised that these services were not regulated, recommending caution until the appropriate framework was in place. While foreign exchanges like Coinbase, KuCoin, and Crypto.com are accessible to Antiguan residents, they may not necessarily hold a specific license under Antigua and Barbuda's DABA. The DABA applies to businesses operating "within or from within" Antigua and Barbuda, which could capture foreign companies serving Antiguan customers, but enforcement against globally operating platforms presents a complex issue. Although trading on platforms like Bybit is not illegal for individual Antiguans, there are risks associated with using unlicensed platforms. Users are unable to appeal to the FSRC for help in case of disputes.

Antigua and Barbuda has also been involved in the Eastern Caribbean Central Bank's (ECCB) pilot project for a Central Bank Digital Currency (CBDC) called DCash. DCash, a digital version of the Eastern Caribbean dollar, was launched in several Eastern Caribbean Currency Union (ECCU) member countries, including Antigua and Barbuda. The purpose was to offer a safer, faster, and cheaper way for payments and fund transfers. While the initial DCash pilot was shut down in early 2024, the ECCB is working on "DCash 2.0" with a planned launch in the next 18 to 24 months from late 2023, which shows continued interest in digital financial technologies. Antigua and Barbuda offers a favorable tax environment for crypto investors, with no personal income tax, no capital gains tax, and no inheritance tax on individuals.

In summary, retail cryptocurrency trading is legally permitted in Antigua and Barbuda under the DABA 2020, but the FSRC advises caution and the use of licensed entities where possible. The country is trying to create a balance between encouraging crypto innovation and protecting its citizens from risks associated with digital assets.

Summary Points

Retail Trading of Cryptocurrencies in Antigua and Barbuda: Regulatory Overview (2025)

1. General Regulatory Status:

  • Allowed-Regulated: Individual citizens and residents are legally permitted to buy, sell, and hold cryptocurrencies.
  • The regulatory focus is on licensing and supervising Virtual Asset Service Providers (VASPs), not prohibiting individual participation.
  • Antigua and Barbuda is positioning itself as a crypto-friendly jurisdiction.

2. Key Regulatory Bodies:

  • Financial Services Regulatory Commission (FSRC):
    • Primary regulatory body responsible for licensing and overseeing digital asset businesses operating in or from within Antigua and Barbuda.
    • Handles licensing applications and ongoing monitoring of VASPs.
    • Ensures compliance with KYC/AML obligations.
  • Eastern Caribbean Central Bank (ECCB):
    • Involved in the DCash CBDC project (see section 6).
    • Jointly issued advisories with the FSRC regarding unregulated crypto services (e.g., Bitcoin ATMs).

3. Key Legislation and Regulations:

  • Digital Assets Business Act (DABA), 2020:
    • Came into effect on June 18, 2020.
    • Provides the legal basis for digital asset businesses.
    • Governs activities such as:
      • Operating cryptocurrency exchanges
      • Issuing or selling digital tokens
      • Providing custodial wallet services
      • Facilitating digital asset payments
    • Prohibits operating a digital asset business "in or from within" Antigua and Barbuda without a license (with limited exceptions).

4. Requirements for Compliance (for VASPs):

  • Licensing: Entities conducting digital asset business must obtain a license from the FSRC.
  • Know Your Customer (KYC): Licensed platforms must implement robust KYC procedures.
  • Anti-Money Laundering (AML): Licensed platforms must implement robust AML procedures.
  • Ongoing Monitoring: Licensed platforms are subject to regular audits and inspections to ensure ongoing compliance.
  • Record-Keeping: Licensed platforms must maintain proper record-keeping.

5. Notable Restrictions or Limitations:

  • Unlicensed Platforms: The FSRC has issued advisories cautioning the public when dealing with unlicensed digital asset businesses or services not under its direct supervision.
  • Enforcement Challenges: While the DABA applies to businesses operating "within or from within" Antigua and Barbuda, enforcement against globally operating platforms is a complex issue.
  • No FSRC recourse for unlicensed platforms: In case of disputes or problems with unlicensed platforms, users cannot appeal to the FSRC or other Antiguan authorities for help.

6. Recent Developments or Changes:

  • DCash (CBDC):
    • Antigua and Barbuda participated in the ECCB's pilot project for DCash, a Central Bank Digital Currency.
    • The initial DCash pilot was shut down in early 2024.
    • ECCB is working on "DCash 2.0" with a planned launch in the next 18-24 months from late 2023.
  • Tax Environment: Antigua and Barbuda offers a favorable tax environment for crypto investors:
    • No personal income tax
    • No capital gains tax
    • No inheritance tax on individuals
  • International Cooperation: Antigua and Barbuda is assisting with international investigations into FTX.

Full Analysis Report

Report on Retail_Trading_Status in Antigua and Barbuda

Date: 2025-06-26

Topic: Retail_Trading_Status

Description: Assess whether individual citizens and residents in the country are legally permitted to buy, sell, and hold cryptocurrencies. Detail the regulatory environment surrounding this activity (e.g., KYC/AML requirements imposed on platforms, general warnings issued).

1. Identified Current Status

Allowed-Regulated

2. Detailed Narrative Explanation

Antigua and Barbuda has established a legal framework for the regulation of digital assets, including cryptocurrencies, positioning itself as a crypto-friendly jurisdiction in the Caribbean. The primary legislation governing this space is the Digital Assets Business Act (DABA), 2020, which came into effect on June 18, 2020. This Act provides the legal basis for digital asset businesses, covering activities such as operating cryptocurrency exchanges, issuing or selling digital tokens, providing custodial wallet services, and facilitating digital asset payments.

Individual citizens and residents in Antigua and Barbuda are legally permitted to buy, sell, and hold cryptocurrencies. The regulatory environment focuses on licensing and supervising Virtual Asset Service Providers (VASPs), rather than prohibiting individuals from participating in crypto-related activities. The Financial Services Regulatory Commission (FSRC) is the primary regulatory body responsible for licensing and overseeing digital asset businesses operating in or from within Antigua and Barbuda.

The DABA mandates that entities conducting digital asset business must obtain a license from the FSRC. This licensing regime includes requirements for businesses to implement robust Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. These measures are designed to prevent fraud, money laundering, and the financing of terrorism, aligning with international standards set by the Financial Action Task Force (FATF), of which Antigua and Barbuda is a member through the Caribbean Financial Action Task Force (CFATF). Licensed platforms are subject to regular audits and inspections to ensure ongoing compliance.

While individuals are free to trade, the FSRC has issued advisories cautioning the public when dealing with unlicensed digital asset businesses or services not under its direct supervision. For instance, the FSRC and the Eastern Caribbean Central Bank (ECCB) have noted the establishment of Bitcoin ATMs and advised that these services were not regulated by them at the time of the advisory, recommending caution until the appropriate legislative and regulatory framework was fully in place and operational. It's also important to note that while foreign exchanges like Coinbase, KuCoin, and Crypto.com are accessible to Antiguan residents and may require KYC compliance based on their own operational standards, they may not necessarily hold a specific license under Antigua and Barbuda's DABA. The DABA applies to businesses operating "within or from within" Antigua and Barbuda, which could capture foreign companies serving Antiguan customers, but enforcement against globally operating platforms is a complex issue.

Antigua and Barbuda has also been involved in the Eastern Caribbean Central Bank's (ECCB) pilot project for a Central Bank Digital Currency (CBDC) called DCash. DCash, a digital version of the Eastern Caribbean dollar, was launched in several Eastern Caribbean Currency Union (ECCU) member countries, including Antigua and Barbuda, aiming to offer a safer, faster, and cheaper way for payments and fund transfers. While the initial DCash pilot was shut down in early 2024, the ECCB is working on "DCash 2.0" with a planned launch in the next 18 to 24 months from late 2023. This initiative underscores the region's broader move towards embracing digital financial technologies.

Furthermore, Antigua and Barbuda offers a favorable tax environment for crypto investors, with no personal income tax, no capital gains tax, and no inheritance tax on individuals, which can make holding and trading cryptocurrencies attractive.

In summary, retail cryptocurrency trading is legally permitted in Antigua and Barbuda. The country has enacted specific legislation (DABA, 2020) to regulate digital asset businesses, including imposing licensing, KYC/AML, and consumer protection requirements under the supervision of the FSRC. While individuals can trade, they are advised to be cautious and use licensed entities where possible.

3. Specific, Relevant Text Excerpts

  • Digital Assets Business Act, 2020 (DABA):

    • "The government of Antigua and Barbuda passed legislation entitled the Digital Assets Business Bill of 2020, which officially became law on June 18, 2020. The Act governs, among other things, the claying on of a digital asset business in Antigua and Barbuda."
    • "The cornerstone of Antigua's crypto regulation is the Digital Assets Business Act (DABA), enacted in June 2020. This comprehensive legislation governs all cryptocurrency business activities conducted in or from within Antigua and Barbuda. It covers a wide range of operations including exchange services, wallet providers, token issuers, payment processors, and other crypto service vendors."
    • "Subject to limited exceptions, the Act prohibits a person from carrying on digital asset business in or from within Antigua and Barbuda unless that person is a licensed undertaking in one of several specified classes."

  • Regulatory Oversight and Licensing:

    • "The Financial Services Regulatory Commission (FSRC) serves as the primary supervisor for digital asset businesses, handling licensing applications and ongoing monitoring."
    • "The regulatory body overseeing the regulations is the Antigua and Barbuda's Financial Services Regulatory Commission (FSRC) ensuring that businesses comply with any KYC (know-your-customer) obligations and anti-money laundering (AML)."
    • "Under DABA 2020, it is technically illegal for an exchange to operate in Antigua & Barbuda without an FSRC license. This applies both to locally based crypto businesses and to overseas platforms serving customers from within Antigua." (Note: This refers to the operation of the exchange, not the act of an individual trading.)
    • "While it's not illegal for individual Antiguans to trade on Bybit (the law targets service providers rather than users), you should recognize that in case of disputes or problems, you cannot appeal to the FSRC or other Antiguan authorities for help [if the platform is unlicensed]."

  • KYC/AML Requirements:

    • "For users, Antigua's regulatory framework offers important protections. Licensed platforms must implement robust KYC procedures, monitor transactions for suspicious activity, and maintain proper record-keeping."
    • "Antigua's regulatory framework places KYC at its core. Under the Digital Assets Business Act and related AML legislation, any licensed digital asset business must implement know-your-customer controls equivalent to those of traditional financial institutions."

  • Legality for Individuals:

    • "Cryptocurrencies are legal. They are regulated by the Digital Assets Business Bill 2020 which regulates companies that establish their operations on the island and provides protection for both exchanges and their customers."

  • Official Advisories:

    • "We advise the public that these Bitcoin ATMs and the services provided are not currently regulated by the ECCB, the ECSRC or the FSRC of Antigua and Barbuda... Until the appropriate legislative arrangements are completed and in place, it is recommended that members of the public proceed with caution when engaging in Bitcoin or other virtual currency transactions." (From a joint notice by ECCB, ECSRC, and FSRC Antigua and Barbuda regarding Bitcoin ATMs, though the FSRC has since been operationalizing the DABA).

  • Tax Environment:

    • "Perhaps most notably, the country imposes no personal income tax, no capital gains tax, and no inheritance tax on individuals. This creates an extremely favorable environment for crypto investors, as realized gains from trading or holding digital assets aren't subject to taxation."

4. Direct, Accessible URL Links to Sources

  1. CitizenX - Guide to Coinbase KYC for Antigua and Barbuda Citizens in 2025: https://citizenx.com/insights/coinbase-kyc-antigua-barbuda/ (Note: While a secondary source, it provides a good overview and references the DABA and FSRC's role. The specific link provided in the search results leads to a Google Search grounding API redirect, the original likely being similar to this example.)
  2. JH Marlin - Antigua and Barbuda Cryptocurrency Laws: Crypto Citizenship Explained: https://jhmarlin.com/antigua-and-barbuda-cryptocurrency-laws-and-crypto-citizenship/ (Similar to above, this is a secondary source summarizing the legal landscape.)
  3. CitizenX - Guide to KYC on KuCoin for Antigua and Barbuda Citizens and CBI Holders: https://citizenx.com/insights/kucoin-kyc-antigua-barbuda-cbi/
  4. CitizenX - Guide to KYC on Bybit with an Antigua and Barbuda Passport in 2025: https://citizenx.com/insights/bybit-kyc-antigua-barbuda-passport/
  5. Freeman Law - Antigua and Barbuda Cryptocurrency: https://freemanlaw.com/antigua-and-barbuda-cryptocurrency-laws/
  6. Human Rights Foundation - ECCU CBDC Tracker: https://hrf.org/eccu-cbdc-tracker/
  7. Global Government Fintech - Eastern Caribbean nations roll out blockchain-based DCash: https://www.globalgovernmentfintech.com/eastern-caribbean-nations-roll-out-blockchain-based-digital-currency-dcash/
  8. Antigua and Barbuda Citizenship for Crypto Investors: A Comprehensive Guide (Relocate Antigua): https://relocateantigua.com/blog/antigua-citizenship-for-crypto-investors/
  9. Proelium Law LLP - Cryptocurrency Regulation Tracker: https://www.proeliumlaw.com/cryptocurrency-regulation-tracker/
  10. NTL Trust - Eastern Caribbean Digital Currency DCash Goes Live: https://www.ntltrust.com/news/eastern-caribbean-digital-currency-dcash-goes-live
  11. Island Pay - Caribbean central banks forge ahead with digital currencies: https://www.islandpay.com/post/caribbean-central-banks-forge-ahead-with-digital-currencies
  12. Charltons Quantum - An overview of the regulation of digital assets in Antigua & Barbuda: https://www.charltonsquantum.com/an-overview-of-the-regulation-of-digital-assets-in-antigua-barbuda/
  13. Coincub - Best Crypto Exchange Antigua and Barbuda: https://coincub.com/country/antigua-barbuda-crypto-exchanges-guide/
  14. Harvey Law Group - A Crypto-Friendly Country: Antigua Citizenship 2025 Guide: https://harveylawcorporation.com/antigua-and-barbuda-a-crypto-friendly-country/
  15. CitizenX - Guide to KYC on Crypto.com with an Antigua and Barbuda Passport in 2025: https://citizenx.com/insights/crypto-com-kyc-antigua-barbuda-passport/
  16. Bitcoin.com News - Antigua and Barbuda to Set Up a Cryptocurrency Exchange (2018 article, for historical context): https://news.bitcoin.com/antigua-and-barbuda-set-up-cryptocurrency-exchange/
  17. Ledger Insights - Eastern Caribbean launches central bank digital currency pilot DCash: https://www.ledgerinsights.com/eastern-caribbean-central-bank-digital-currency-cbdc-dcash/
  18. Financial Services Regulatory Commission (Antigua and Barbuda) - Bitcoin ATM and Bitcoin Investments Not Authorised by Regulators in ECCU (via a link on an ECCB page, specific FSRC notice link might be needed directly from FSRC website if available): https://www.eccb-centralbank.org/news/view/bitcoin-atm-and-bitcoin-investments-not-authorised-by-regulators-in-eccu (The FSRC notice link within this page: https://www.fsrc.gov.ag/wp-content/uploads/2021/04/Public-Notice-Virtual-Assets-aka-Cryptocurrency.pdf - this direct FSRC link is more primary for the advisory).
  19. Loop News - Antigua & Barbuda to assist with international investigations into FTX (Provides context on regulatory awareness and international cooperation): https://caribbean.loopnews.com/content/antigua-barbuda-assist-international-investigations-ftx

(Primary sources like the official text of the Digital Assets Business Act, 2020, and direct publications from the FSRC website would be the most authoritative. Many of the provided links are reputable secondary sources that analyze and cite these primary documents.)

Web Sources (19)

Sources discovered via web search grounding

Search queries used (6)
  • Antigua and Barbuda cryptocurrency regulation retail
  • Antigua and Barbuda crypto trading laws for individuals
  • Antigua and Barbuda Financial Services Regulatory Commission (FSRC) cryptocurrency policy
  • Antigua and Barbuda AML KYC cryptocurrency exchanges
  • Antigua and Barbuda official statements on retail crypto trading
  • Eastern Caribbean Central Bank digital currency Antigua and Barbuda retail
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