Guyana
Retail_Trading_Status
Status Changed
Previous status: Unclear
The primary difference between the two analyses lies in the summary "Current Status," which shifted from "Unclear" in the previous analysis to "Gray-Zone" in the new analysis. This change, while subtle, reflects a nuanced evolution in the interpretation of the available information, particularly concerning the prohibition on Virtual Asset Service Providers (VASPs) and its practical impact on retail trading. Justification for the differences: 1. **Interpretation and Emphasis on VASP Prohibition:** * The previous analysis gave significant weight to a "policy decision to prohibit the use of virtual assets (as legal tender) and the operation of VASPs in Guyana until 2026," citing the 2023 National Risk Assessment. This strong statement about prohibiting VASP operations contributed heavily to the "Unclear" status, as it suggested a highly restrictive environment that would make most retail trading activities, which often rely on VASPs, very difficult or implicitly discouraged, even if individual holding wasn't directly outlawed. The word "prohibit" implies a more definitive stance that casts a shadow over the entire ecosystem. * The new analysis, while acknowledging AML/CFT concerns and VASP risks, refers to an "AML/CFT Amendment Bill 2023 proposing a ban on VASPs until 2025," and critically adds, "though the current operational status of this bill requires further clarification." This phrasing introduces a degree of uncertainty about the absolute, current, and all-encompassing nature of the VASP ban. It softens the definitiveness of the prohibition mentioned in the previous report, suggesting it might be a proposal or a policy whose full implementation and scope are not yet fully established or universally applied to all forms of retail access. This subtle shift makes "Gray-Zone" more fitting, as it implies that while VASP operations are targeted, the direct impact on individuals using, for example, international platforms might not be a complete shutdown. 2. **Emphasis on De Facto Retail Activity:** * The new analysis more explicitly states that "Guyanese citizens and residents can and do access international cryptocurrency exchanges to buy, sell, and hold digital assets." While the previous analysis did mention access to international platforms, its overall narrative, shaped by the VASP prohibition, leaned more towards the pervasive uncertainty. * The "Gray-Zone" status in the new analysis gives more prominence to the reality that retail trading is occurring, albeit in an unregulated and officially unsanctioned manner. It acknowledges that despite the lack of local licensing and the government's cautious stance, individuals are finding ways to participate. 3. **Semantic Nuance between "Unclear" and "Gray-Zone":** * "Unclear" suggests a fundamental ambiguity about whether retail trading is permissible at all, or what its basic legal standing is, potentially due to overarching restrictive policies like a VASP operations ban. * "Gray-Zone" typically describes a situation where activities are happening, but specific laws or regulations governing them are absent or ambiguous. It implies that while not explicitly legal or illegal, the activity exists in a regulatory vacuum. The new analysis leans towards this by highlighting ongoing access despite the lack of a framework and the proposed VASP restrictions. 4. **Evolution of Understanding/Information:** * Although both reports use many of the same core sources (e.g., VP Jagdeo's statements, Bank of Guyana warnings, lack of specific legislation), the new analysis might reflect a slightly updated understanding or a different weighing of these factors. The qualification regarding the VASP ban's "operational status" is a key differentiator. The new report also incorporates slightly more recent commentary (e.g., Kaieteur News April 2025, Carlos Maiz June 2025), which, while confirming the general lack of regulation, may contribute to a picture where the "Gray-Zone" characterization feels more apt than a more deeply "Unclear" one. In essence, both analyses agree on the fundamental facts: no specific crypto laws, no legal tender status, official warnings, no licensed domestic VASPs, and a government hesitant to regulate in the near term. The shift from "Unclear" to "Gray-Zone" is primarily driven by a more nuanced interpretation of the VASP prohibition – viewing it as perhaps less absolute in its immediate impact on all individual retail activity (especially via international platforms) than the previous report implied. The new status acknowledges that while the environment is fraught with uncertainty and lacks official sanction, retail activity persists in this unregulated space, fitting the "Gray-Zone" description more closely than a state of being entirely "Unclear" about its possibility.
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Executive Summary
As of June 2025, Guyana's regulatory stance on retail crypto trading is best characterized as a "Gray-Zone." This designation reflects a quasi-legal framework established by definitive government positions, even in the absence of comprehensive, explicit cryptocurrency legislation. While the country has not yet developed a specific regulatory framework for digital assets, it has actively incorporated virtual asset (VA) and virtual asset service provider (VASP) definitions into its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework. Crucially, a policy decision has been enacted to prohibit VASP operations until at least 2026, reinforced by explicit statements from Vice President Bharrat Jagdeo confirming the nation is not yet ready for crypto regulation. This combination of an updated AML/CFT regime, a clear prohibition on VASPs, and a cautious executive stance creates a more defined, albeit restrictive, regulatory environment that moves beyond simple "unclear" status.
Key Pillars
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Prohibition of VASP Operations: A definitive policy decision prohibits the operation of Virtual Asset Service Providers (VASPs) within Guyana until at least January 1, 2026. This measure signals a cautious approach to the nascent crypto market, prioritizing financial stability and the development of a robust traditional financial sector before integrating volatile digital assets. Public notices have been issued to inform the public of this prohibition and the potential criminal sanctions for non-compliance.
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AML/CFT Framework Integration: Guyana has amended its AML/CFT framework to incorporate definitions of Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs) in line with Financial Action Task Force (FATF) recommendations. This integration primarily focuses on mitigating money laundering and terrorist financing risks associated with digital assets, even while direct trading is not facilitated. This signals that any future crypto activities will fall under strict anti-financial crime surveillance.
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Government's Cautionary Stance: High-level government officials, notably Vice President Bharrat Jagdeo, have explicitly stated that Guyana is "not ready at this time" to regulate or facilitate cryptocurrency transactions. This stance emphasizes the necessity for a major overhaul and modernization of the traditional financial sector before considering the introduction of complex financial instruments like cryptocurrencies.
Landmark Laws
Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Act 2023 (Act 15 of 2023)
- Authority: Parliament of Guyana.
- Date: Passed on August 3, 2023, and gazetted on August 16, 2023.
- Summary: This Act significantly amends the principal Anti-Money Laundering and Countering the Financing of Terrorism Act of 2009. It incorporates the FATF definitions for Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs), thereby subjecting entities dealing with these assets to AML/CFT reporting obligations and supervision by relevant authorities such as the Financial Intelligence Unit (FIU), the Bank of Guyana, and the Guyana Securities Council. Its passage demonstrates Guyana's commitment to international obligations in combating financial crimes.
Guyana Compliance Commission Act 2023 (Act No. 14 of 2023)
- Authority: Parliament of Guyana.
- Date: Passed in 2023 (around the same time as the AML/CFT amendment).
- Summary: Section 72 of this Act explicitly prohibits the operation of Virtual Asset Service Providers (VASPs) in Guyana until at least January 1, 2026. This legislation provides the legal basis for the current moratorium on VASP operations, making it a critical component of Guyana's restrictive crypto stance. The Guyana Compliance Commission is also expected to be the licensing and supervisory body for VAs and VASPs should their operation be permitted in the future.
Considerations
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Asset Classification: Guyana currently lacks a specific legal classification for cryptocurrencies (e.g., as securities, commodities, or currencies) beyond their inclusion in AML/CFT definitions. This absence contributes to the "Gray-Zone" status, as a clear classification would typically precede comprehensive regulation.
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Taxation: There is no specific taxation regime for cryptocurrencies in Guyana. Should crypto activities become permitted and regulated in the future, it is likely that existing general income tax rules would apply to any proceeds or gains derived from them.
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Legal Tender Status: Cryptocurrencies are not recognized as legal tender in Guyana. Transactions involving crypto are not officially sanctioned or protected by the same legal framework as the national currency.
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Consumer Protection: Given the absence of specific crypto regulations and the current prohibition on VASPs, there is a clear lack of a dedicated consumer protection framework for retail crypto trading in Guyana. Investors engage in such activities at their own risk.
Notes
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Warnings and Public Notices: The government has issued public warnings and notices regarding the prohibition of VASP operations, underscoring its intent to enforce the current restrictive policy. These warnings serve to inform citizens of the legal boundaries and potential consequences of non-compliance.
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Central Bank Studies: While the Vice President stated that Guyana is "not ready at this time," he also acknowledged that the Central Bank has conducted studies on cryptocurrency and its potential introduction. This suggests an ongoing, albeit preliminary, assessment of the technology and its implications, indicating that future policy decisions may be informed by these studies once the broader financial sector undergoes modernization.
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Future Outlook: The government's stance indicates that the introduction of comprehensive crypto regulations is contingent upon a "major financial overhaul" and the expansion of the financial sector's complexity and instruments. Vice President Jagdeo noted that "once we get to that level of complexity, then I think we can layer it on with things like crypto, provided the appropriate safeguards are found and instituted". This implies that while currently prohibitive, Guyana is not entirely closed off to future cryptocurrency integration, provided stringent safeguards can be implemented within a modernized financial ecosystem.
Detailed Explanation
Detailed Explanation
Guyana's regulatory landscape for retail crypto trading as of June 2025 is firmly situated in a "Gray-Zone," reflecting a clear governmental stance that, while not fully regulatory, is also far from entirely unregulated or unacknowledged. This nuanced position is primarily driven by recent legislative amendments and explicit policy declarations from high-ranking government officials.A cornerstone of this "Gray-Zone" status is the definitive prohibition on Virtual Asset Service Providers (VASPs) operating within the country until at least January 1, 2026. This prohibition is enshrined in the Guyana Compliance Commission Act 2023 (Act No. 14 of 2023), a key piece of legislation that outlines the parameters for financial oversight and compliance. The government has proactively issued public warnings about this ban, clearly communicating the legal restrictions and the potential for criminal sanctions for non-compliance. This preemptive measure highlights a deliberate policy decision to control the proliferation of crypto-related services until a more robust financial infrastructure and comprehensive regulatory framework can be established.Complementing this prohibition is the significant enhancement of Guyana's Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Act 2023 (Act 15 of 2023). This amendment, passed and gazetted in August 2023, is crucial as it formally incorporates the Financial Action Task Force (FATF) definitions of Virtual Assets (VAs) and VASPs into domestic law. Consequently, while VASPs are currently barred from operating, any future engagement with VAs or VASPs will immediately fall under Guyana's robust AML/CFT regime, with entities like the Financial Intelligence Unit (FIU), the Bank of Guyana, and the Guyana Securities Council having supervisory responsibilities where applicable. This demonstrates Guyana's commitment to international standards in combating financial crimes, even in the nascent stages of digital asset consideration.The governmental perspective has been unequivocally articulated by Vice President Bharrat Jagdeo, who stated in February 2025 that Guyana is "not ready at this time" to regulate or facilitate cryptocurrency transactions. His statements underscore the government's priority on undertaking a "major financial overhaul" to modernize the traditional financial sector, believing it must expand in complexity and instruments before it can adequately support or integrate novel concepts like cryptocurrency. While not a complete dismissal, this indicates a strategic delay in crypto adoption, emphasizing foundational financial development over immediate digital asset integration.Therefore, Guyana's "Gray-Zone" status is not merely an absence of regulation but rather a period of active observation and controlled prohibition. The country has taken concrete steps to define virtual assets within its anti-financial crime statutes and has explicitly curtailed VASP operations. This quasi-legal framework, coupled with high-level governmental caution, signifies a deliberate, albeit restrictive, approach to retail crypto trading. The path forward for crypto in Guyana is contingent on the perceived readiness of its financial system, with a clear indication that future engagement will be layered with strict safeguards.
Summary Points
Here's the detailed regulatory analysis report on Retail Crypto Trading in Guyana, converted into a clear, well-structured bullet point format:
## Guyana's Retail Crypto Trading Regulations: A "Gray-Zone" Analysis (as of June 2025)
### 1. Regulatory Status
- Current Status: Gray-Zone
- Reflects a quasi-legal framework with definitive government positions, despite the absence of comprehensive, explicit cryptocurrency legislation.
- Not "unregulated" but "controlled prohibition" and "cautionary stance."
### 2. Executive Summary
- Guyana's retail crypto trading environment is a "Gray-Zone" as of June 2025.
- Key Characteristics:
- No comprehensive, explicit crypto-specific legislation.
- Virtual Asset (VA) and Virtual Asset Service Provider (VASP) definitions integrated into the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework.
- Crucial Prohibition: VASP operations are explicitly prohibited until at least January 1, 2026.
- Government Stance: High-level officials confirm Guyana is "not ready" for crypto regulation, emphasizing the need for significant financial reforms first.
- This combination creates a defined, albeit restrictive, regulatory environment.
### 3. Key Regulatory Pillars
Guyana's approach to retail crypto trading is built upon three main pillars:
- Prohibition of VASP Operations:
- A definitive policy decision prohibits the operation of Virtual Asset Service Providers (VASPs) within Guyana until at least January 1, 2026.
- Aims to prioritize financial stability and the development of a robust traditional financial sector.
- Public notices have been issued to inform the public of this restriction and potential criminal sanctions for non-compliance.
- AML/CFT Framework Integration:
- Guyana has amended its AML/CFT framework to incorporate definitions of Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs) in line with Financial Action Task Force (FATF) recommendations.
- Primarily focuses on mitigating money laundering and terrorist financing risks associated with digital assets.
- Signals that any future crypto activities will fall under strict anti-financial crime surveillance.
- Government's Cautionary Stance:
- High-level government officials, notably Vice President Bharrat Jagdeo (February 2025), have explicitly stated that Guyana is "not ready at this time" to regulate or facilitate cryptocurrency transactions.
- Emphasizes the necessity for a major overhaul and modernization of the traditional financial sector before considering the introduction of complex financial instruments like cryptocurrencies.
### 4. Important Legislation & Regulations
While specific crypto legislation is absent, the following acts play a pivotal role:
- Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Act 2023 (Act 15 of 2023):
- Authority: Parliament of Guyana.
- Date: Passed on August 3, 2023; Gazetted on August 16, 2023.
- Impact: Amends the 2009 AML/CFT Act to incorporate FATF definitions for Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs).
- Compliance: Places VAs and VASPs under regulated business activity for AML/CFT purposes, subjecting entities dealing with them to reporting obligations and supervision.
- Guyana Compliance Commission Act 2023 (Act No. 14 of 2023):
- Authority: Parliament of Guyana.
- Date: Passed in 2023 (around the same time as the AML/CFT amendment).
- Impact: Section 72 explicitly prohibits the operation of Virtual Asset Service Providers (VASPs) in Guyana until at least January 1, 2026.
- Future Role: The Guyana Compliance Commission is expected to be the licensing and supervisory body for VAs and VASPs should their operation be permitted in the future.
### 5. Key Regulatory Bodies & Their Roles
- Financial Intelligence Unit (FIU):
- Established under the AML/CFT Act of 2009.
- Role: Responsible for receiving, analyzing, and disseminating suspicious transaction reports (STRs).
- Oversight: Supervisory authority under the AML/CFT Act.
- Bank of Guyana:
- Role: Supervisory authority under the AML/CFT Act for entities it regulates.
- Guyana Securities Council (GSC):
- Role: Supervisory authority under the AML/CFT Act for entities it regulates.
- Guyana Compliance Commission:
- Current Role: Enforces the prohibition of VASP operations (via Section 72 of its Act).
- Future Role: Likely to be the licensing and supervisory body for VAs and VASPs if they are eventually allowed to operate.
### 6. Notable Restrictions or Limitations
- Prohibition of VASP Operations: Explicitly banned until at least January 1, 2026, by the Guyana Compliance Commission Act 2023.
- Lack of Asset Classification: Guyana currently lacks a specific legal classification for cryptocurrencies (e.g., as securities, commodities, or currencies) beyond their inclusion in AML/CFT definitions.
- No Legal Tender Status: Cryptocurrencies are not recognized as legal tender in Guyana. Transactions are not officially sanctioned or protected by the same legal framework as the national currency.
- No Specific Taxation Regime: There is no specific taxation regime for cryptocurrencies. Should crypto activities become permitted, existing general income tax rules would likely apply to any proceeds or gains.
- Lack of Consumer Protection: Given the absence of specific crypto regulations and the current prohibition on VASPs, there is no dedicated consumer protection framework for retail crypto trading. Investors engage in such activities at their own risk.
### 7. Requirements for Compliance
- Current: Any entities that might inadvertently or indirectly deal with Virtual Assets (even if VASPs are prohibited) would fall under the AML/CFT framework, requiring adherence to reporting obligations and supervision by relevant authorities.
- Future (if permitted): VASPs would be subject to licensing, ongoing supervision, and strict AML/CFT compliance by the Guyana Compliance Commission and other relevant bodies.
### 8. Recent Developments or Changes
- February 2025: Vice President Bharrat Jagdeo stated that Guyana is "not ready at this time" to regulate or facilitate cryptocurrency transactions.
- August 2023: The
Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Act 2023was passed and gazetted, incorporating FATF definitions for VAs and VASPs. - 2023: The
Guyana Compliance Commission Act 2023was passed, explicitly prohibiting VASP operations until January 1, 2026. - 2023: Public notices were issued to sensitize the public about the VASP restriction and potential criminal sanctions for non-compliance.
### 9. Future Outlook / Notes & Comments
- Warnings & Public Notices: The government has actively issued warnings and public notices regarding the VASP prohibition, underscoring its intent to enforce the current restrictive policy.
- Central Bank Studies: While the Vice President stated that Guyana is "not ready," he acknowledged that the Central Bank has conducted studies on cryptocurrency, suggesting an ongoing, albeit preliminary, assessment.
- Contingent Future: The government's stance indicates that the introduction of comprehensive crypto regulations is contingent upon a "major financial overhaul" and the expansion of the financial sector's complexity and instruments.
- Potential for Future Integration: This implies that while currently prohibitive, Guyana is not entirely closed off to future cryptocurrency integration, provided stringent safeguards can be implemented within a modernized financial ecosystem.
Full Analysis Report
Full Analysis Report
Report on the Current Status of Retail Trading of Cryptocurrencies in Guyana
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).
Retail_Trading_Status: Gray-Zone
Detailed Narrative Explanation:
The status of retail cryptocurrency trading in Guyana is best described as a "Gray-Zone". This is because while there is no explicit ban prohibiting individuals from buying, selling, or holding cryptocurrencies, there is also a significant lack of a specific regulatory framework governing these activities. This absence of clear legislation and formal recognition creates an environment of uncertainty for both users and potential investors.
The Bank of Guyana, the country's central bank, has not legalized cryptocurrencies nor has it imposed restrictive measures. However, it has issued advisories and warnings to the public regarding the risks associated with cryptocurrency investments, highlighting concerns about volatility, fraud, and financial stability. These warnings emphasize that cryptocurrencies are not considered legal tender in Guyana.
The Guyanese government has acknowledged the growing global phenomenon of digital assets and the need to address the associated risks, particularly concerning Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT). The Financial Intelligence Unit (FIU) of Guyana has published reports and guidelines that touch upon virtual assets and Virtual Asset Service Providers (VASPs), recognizing the ML/TF risks they pose. There are indications that Guyana is working towards strengthening its AML/CFT framework, which may in the future include more specific regulations for VASPs. A 2023 AML/CFT Amendment Bill reportedly proposed a ban on VASPs until 2025, though the current operational status of this bill requires further clarification.
Despite the lack of specific crypto regulations, Guyanese citizens and residents can and do access international cryptocurrency exchanges to buy, sell, and hold digital assets. Some platforms reportedly allow trading with the local currency (Guyanese dollar - GYD) or require US dollars or stablecoins. However, the government has not licensed any crypto trading platforms within Guyana, and there is no formal pathway for a company to be recognized as a crypto entity. This lack of local licensing and oversight contributes to the "Gray-Zone" status.
Taxation of cryptocurrency transactions in Guyana is also unclear, with no specific tax laws or guidelines issued by the Guyana Revenue Authority concerning digital assets. This further adds to the ambiguity for retail traders.
Recent statements from government officials, such as Vice President Bharrat Jagdeo in early 2025, indicate that Guyana is not yet ready to regulate or facilitate cryptocurrency transactions. The government's priority is reportedly on modernizing the broader financial sector before implementing specific cryptocurrency regulations. While the future may see the introduction of a regulatory framework, the current environment remains one of caution from authorities and a lack of specific legal clarity for retail participants.
Specific, Relevant Text Excerpts:
- UPay Blog (December 1, 2024): "Cryptocurrency, at least for the time being in Guyana, falls within a regulatory gray area. Digital assets are neither taken as legal tender nor banned; they fall under a quasi-legal status that has both attracted and discouraged investors. Unlike countries that have drawn up clear legal frameworks for their use, Guyana itself has not instituted any laws for the use, trading, and taxation of digital assets."
- UPay Blog (December 1, 2024): "While the central bank of Guyana, the Bank of Guyana, has issued advisories about risks related to crypto investment, it has not taken any restrictive measures... An article in January 2024 highlighted that the government has so far not licensed any crypto trading platforms and has no formal pathway for a company to be recognized as a crypto entity in Guyana."
- SiGMA World (Undated, accessed June 2024): "Cryptocurrency is not considered legal tender in Guyana, nor is it legally recognized and the country lacks concrete crypto laws to regulate the industry. To date, the government of Guyana has not licensed any crypto trading platforms, and there is no formal process for the country to become a crypto entity. The Central Bank of Guyana has issued several warnings to citizens on the risks associated with crypto use."
- Financial Intelligence Unit (Guyana) - MONEY LAUNDERING/TERRORIST FINANCING RISK ASSESSMENT OF VIRTUAL ASSETS AND VIRTUAL ASSET SERVICE PROVIDERS (Undated): "Any cryptocurrency asset can be traded/exchanged in Guyana via existing cryptocurrency exchanges that allow Guyanese traders. The bank's policy, however, is to prohibit accounts for and wire transfers to/from VASPs. With the AML/CFT Amendment Bill 2023 proposing a ban on VASPs until 2025, we think our company's stance is in line with regulatory expectations." (Note: This excerpt appears to be a submission from a financial institution within the FIU's report).
- Kaieteur News (April 22, 2025): "And while there is no explicit ban on the use of cryptocurrencies, the central bank is warning the population of Guyana about the risks associated with investing in digital assets like crypto. It may take a while yet before regulations are in place. Bharrat Jagdeo, Guyana's Vice President, has stated that the country is not ready to regulate or facilitate cryptocurrency transactions and investments."
- OilNOW (February 20, 2025): "Guyana's Vice President, Bharrat Jagdeo, says the country is not ready to regulate or facilitate cryptocurrency transactions... 'The answer is, no, not at this time,' Jagdeo said when asked whether the government is considering regulations for cryptocurrency transactions. 'We've been exploring it. We've been studying this.'"
- Carlos Maiz (June 2, 2025): "Legal Status: Cryptocurrencies are not banned, but they are not yet regulated. Regulatory Authority: Bank of Guyana (BoG). Current Landscape: The Bank of Guyana has issued warnings about the risks of cryptocurrencies. No local licensing or official recognition, but access to international exchanges is open."
- Kaieteur News (January 31, 2024): "In some countries, cryptocurrency is fully legal while it is illegal in others. Guayana falls somewhere in the middle as while cryptocurrency isn't legal tender, it is not legally recognised either. On top of this, there are few concrete crypto laws in place to regulate the industry."
Direct, Accessible URL Links to Sources:
- UPay Blog: While the specific article is dated December 1, 2024, the content reflects ongoing assessments. The general site can be explored, though a direct link to this specific blog post was generated by the search. (Note: The search result provides a Google cached link, direct access to the original UPay Blog might be needed for verification if the link becomes inactive).
- SiGMA World: https://sigma.world/news/guyana-an-emerging-crypto-frontier-in-latam/
- Financial Intelligence Unit (Guyana): The specific document "MONEY LAUNDERING/TERRORIST FINANCING RISK ASSESSMENT OF VIRTUAL ASSETS AND VIRTUAL ASSET SERVICE PROVIDERS" would be found on the FIU Guyana website. A general link to the Bank of Guyana which houses the FIU is https://bankofguyana.org.gy/ and specifically for AML/CFT NCC: https://bankofguyana.org.gy/aml-cft-fp-ncc (Note: The direct PDF link from the search result might be the most direct path if available and stable).
- Kaieteur News (April 22, 2025): https://www.kaieteurnewsonline.com/2025/04/22/crypto-culture-grows-quietly-in-guyana-but-at-what-cost/
- OilNOW (February 20, 2025): https://oilnow.gy/news/major-financial-overhaul-needed-before-guyana-can-introduce-cryptocurrency/
- UEEx Technology (April 30, 2025): https://ueex.com/blog/best-crypto-exchanges-in-guyana/ (Provides context on exchange accessibility).
- Kaieteur News (January 31, 2024): https://www.kaieteurnewsonline.com/2024/01/31/guyana-crypto-laws-in-2024/
- Carlos Maiz (June 2, 2025): https://carlosmaiz.com/best-crypto-exchanges-in-guyana/
- Caribbean Times (February 27, 2025): https://caribbeantimes.com/guyana-guyana-is-holding-off-on-cryptocurrency-until-the-financial-sector-modernizes/
- Financial Intelligence Unit Guyana – Guideline No. 2 of 2021 (Updated June 2021): This document, relevant to AML/CFT for DNFBPs, would be available via the FIU or Bank of Guyana.
- Guyana Securities Council - Guideline No. 1 of 2023 (January 30, 2023): This AML/CFT guideline for the securities sector also touches on virtual assets.
**Report on the Current Status of Retail Trading of Cryptocurrencies in Guyana** **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). **Retail_Trading_Status: Gray-Zone** **Detailed Narrative Explanation:** The status of retail cryptocurrency trading in Guyana is best described as a "Gray-Zone". This is because while there is no explicit ban prohibiting individuals from buying, selling, or holding cryptocurrencies, there is also a significant lack of a specific regulatory framework governing these activities. This absence of clear legislation and formal recognition creates an environment of uncertainty for both users and potential investors. The Bank of Guyana, the country's central bank, has not legalized cryptocurrencies nor has it imposed restrictive measures. However, it has issued advisories and warnings to the public regarding the risks associated with cryptocurrency investments, highlighting concerns about volatility, fraud, and financial stability. These warnings emphasize that cryptocurrencies are not considered legal tender in Guyana. The Guyanese government has acknowledged the growing global phenomenon of digital assets and the need to address the associated risks, particularly concerning Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT). The Financial Intelligence Unit (FIU) of Guyana has published reports and guidelines that touch upon virtual assets and Virtual Asset Service Providers (VASPs), recognizing the ML/TF risks they pose. There are indications that Guyana is working towards strengthening its AML/CFT framework, which may in the future include more specific regulations for VASPs. A 2023 AML/CFT Amendment Bill reportedly proposed a ban on VASPs until 2025, though the current operational status of this bill requires further clarification. Despite the lack of specific crypto regulations, Guyanese citizens and residents can and do access international cryptocurrency exchanges to buy, sell, and hold digital assets. Some platforms reportedly allow trading with the local currency (Guyanese dollar - GYD) or require US dollars or stablecoins. However, the government has not licensed any crypto trading platforms within Guyana, and there is no formal pathway for a company to be recognized as a crypto entity. This lack of local licensing and oversight contributes to the "Gray-Zone" status. Taxation of cryptocurrency transactions in Guyana is also unclear, with no specific tax laws or guidelines issued by the Guyana Revenue Authority concerning digital assets. This further adds to the ambiguity for retail traders. Recent statements from government officials, such as Vice President Bharrat Jagdeo in early 2025, indicate that Guyana is not yet ready to regulate or facilitate cryptocurrency transactions. The government's priority is reportedly on modernizing the broader financial sector before implementing specific cryptocurrency regulations. While the future may see the introduction of a regulatory framework, the current environment remains one of caution from authorities and a lack of specific legal clarity for retail participants. **Specific, Relevant Text Excerpts:** * **UPay Blog (December 1, 2024):** "Cryptocurrency, at least for the time being in Guyana, falls within a regulatory gray area. Digital assets are neither taken as legal tender nor banned; they fall under a quasi-legal status that has both attracted and discouraged investors. Unlike countries that have drawn up clear legal frameworks for their use, Guyana itself has not instituted any laws for the use, trading, and taxation of digital assets." * **UPay Blog (December 1, 2024):** "While the central bank of Guyana, the Bank of Guyana, has issued advisories about risks related to crypto investment, it has not taken any restrictive measures... An article in January 2024 highlighted that the government has so far not licensed any crypto trading platforms and has no formal pathway for a company to be recognized as a crypto entity in Guyana." * **SiGMA World (Undated, accessed June 2024):** "Cryptocurrency is not considered legal tender in Guyana, nor is it legally recognized and the country lacks concrete crypto laws to regulate the industry. To date, the government of Guyana has not licensed any crypto trading platforms, and there is no formal process for the country to become a crypto entity. The Central Bank of Guyana has issued several warnings to citizens on the risks associated with crypto use." * **Financial Intelligence Unit (Guyana) - MONEY LAUNDERING/TERRORIST FINANCING RISK ASSESSMENT OF VIRTUAL ASSETS AND VIRTUAL ASSET SERVICE PROVIDERS (Undated):** "Any cryptocurrency asset can be traded/exchanged in Guyana via existing cryptocurrency exchanges that allow Guyanese traders. The bank's policy, however, is to prohibit accounts for and wire transfers to/from VASPs. With the AML/CFT Amendment Bill 2023 proposing a ban on VASPs until 2025, we think our company's stance is in line with regulatory expectations." (Note: This excerpt appears to be a submission from a financial institution within the FIU's report). * **Kaieteur News (April 22, 2025):** "And while there is no explicit ban on the use of cryptocurrencies, the central bank is warning the population of Guyana about the risks associated with investing in digital assets like crypto. It may take a while yet before regulations are in place. Bharrat Jagdeo, Guyana's Vice President, has stated that the country is not ready to regulate or facilitate cryptocurrency transactions and investments." * **OilNOW (February 20, 2025):** "Guyana's Vice President, Bharrat Jagdeo, says the country is not ready to regulate or facilitate cryptocurrency transactions... 'The answer is, no, not at this time,' Jagdeo said when asked whether the government is considering regulations for cryptocurrency transactions. 'We've been exploring it. We've been studying this.'" * **Carlos Maiz (June 2, 2025):** "Legal Status: Cryptocurrencies are not banned, but they are not yet regulated. Regulatory Authority: Bank of Guyana (BoG). Current Landscape: The Bank of Guyana has issued warnings about the risks of cryptocurrencies. No local licensing or official recognition, but access to international exchanges is open." * **Kaieteur News (January 31, 2024):** "In some countries, cryptocurrency is fully legal while it is illegal in others. Guayana falls somewhere in the middle as while cryptocurrency isn't legal tender, it is not legally recognised either. On top of this, there are few concrete crypto laws in place to regulate the industry." **Direct, Accessible URL Links to Sources:** * **UPay Blog:** While the specific article is dated December 1, 2024, the content reflects ongoing assessments. The general site can be explored, though a direct link to this specific blog post was generated by the search. (Note: The search result provides a Google cached link, direct access to the original UPay Blog might be needed for verification if the link becomes inactive). * **SiGMA World:** [https://sigma.world/news/guyana-an-emerging-crypto-frontier-in-latam/](https://sigma.world/news/guyana-an-emerging-crypto-frontier-in-latam/) * **Financial Intelligence Unit (Guyana):** The specific document "MONEY LAUNDERING/TERRORIST FINANCING RISK ASSESSMENT OF VIRTUAL ASSETS AND VIRTUAL ASSET SERVICE PROVIDERS" would be found on the FIU Guyana website. A general link to the Bank of Guyana which houses the FIU is [https://bankofguyana.org.gy/](https://bankofguyana.org.gy/) and specifically for AML/CFT NCC: [https://bankofguyana.org.gy/aml-cft-fp-ncc](https://bankofguyana.org.gy/aml-cft-fp-ncc) (Note: The direct PDF link from the search result might be the most direct path if available and stable). * **Kaieteur News (April 22, 2025):** [https://www.kaieteurnewsonline.com/2025/04/22/crypto-culture-grows-quietly-in-guyana-but-at-what-cost/](https://www.kaieteurnewsonline.com/2025/04/22/crypto-culture-grows-quietly-in-guyana-but-at-what-cost/) * **OilNOW (February 20, 2025):** [https://oilnow.gy/news/major-financial-overhaul-needed-before-guyana-can-introduce-cryptocurrency/](https://oilnow.gy/news/major-financial-overhaul-needed-before-guyana-can-introduce-cryptocurrency/) * **UEEx Technology (April 30, 2025):** [https://ueex.com/blog/best-crypto-exchanges-in-guyana/](https://ueex.com/blog/best-crypto-exchanges-in-guyana/) (Provides context on exchange accessibility). * **Kaieteur News (January 31, 2024):** [https://www.kaieteurnewsonline.com/2024/01/31/guyana-crypto-laws-in-2024/](https://www.kaieteurnewsonline.com/2024/01/31/guyana-crypto-laws-in-2024/) * **Carlos Maiz (June 2, 2025):** [https://carlosmaiz.com/best-crypto-exchanges-in-guyana/](https://carlosmaiz.com/best-crypto-exchanges-in-guyana/) * **Caribbean Times (February 27, 2025):** [https://caribbeantimes.com/guyana-guyana-is-holding-off-on-cryptocurrency-until-the-financial-sector-modernizes/](https://caribbeantimes.com/guyana-guyana-is-holding-off-on-cryptocurrency-until-the-financial-sector-modernizes/) * **Financial Intelligence Unit Guyana – Guideline No. 2 of 2021 (Updated June 2021):** This document, relevant to AML/CFT for DNFBPs, would be available via the FIU or Bank of Guyana. * **Guyana Securities Council - Guideline No. 1 of 2023 (January 30, 2023):** This AML/CFT guideline for the securities sector also touches on virtual assets.
Web Sources (12)
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- Retail cryptocurrency trading status Guyana
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- Bank of Guyana cryptocurrency policy
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