**Report on the Current Status of Retail Cryptocurrency Trading in Trinidad and Tobago**

**Date:** 2025-12-12 (Updated)

**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.

**1. Current Status:** Allowed-UnRegulated

**2. Detailed Narrative Explanation:**

Retail cryptocurrency trading in Trinidad and Tobago is legally permitted and falls under the classification "Allowed-UnRegulated." There is no legislation that explicitly prohibits individuals from purchasing, selling, or holding cryptocurrencies such as Bitcoin or Ethereum. However, this activity occurs in the absence of a comprehensive, bespoke regulatory framework designed for the crypto asset sector.

The regulatory landscape is characterized by cautious monitoring and public warnings from the country's key financial authorities: the Central Bank of Trinidad and Tobago (CBTT), the Trinidad and Tobago Securities and Exchange Commission (TTSEC), and the Financial Intelligence Unit of Trinidad and Tobago (FIUTT). In a joint public statement issued on January 25, 2019 (reiterated in 2021), these authorities clarified that providers of cryptocurrencies are "neither regulated nor supervised by the Regulatory Authorities" and that no legislative provisions under their purview offer consumer protection for losses from virtual currency use. They have consistently warned about risks including extreme price volatility, potential for use in money laundering and terrorism financing, and the absence of deposit insurance or legal tender status.

Existing general financial laws may apply in certain circumstances. The TTSEC has indicated that if a cryptocurrency or its offering (like an ICO) meets the definition of a "security" under the **Securities Act, 2012**, then the full suite of securities regulations, including registration requirements, would apply. This determination is made on a case-by-case basis. Furthermore, financial institutions regulated by the CBTT or TTSEC that facilitate crypto-related transactions must comply with standard Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) obligations, including Know Your Customer (KYC) procedures, under the oversight of the FIUTT.

In November 2025, Parliament enacted the **Virtual Assets and Virtual Assets Service Providers Act, 2025**. This landmark legislation represents the country's first dedicated regulatory framework for the sector. The Act establishes a licensing regime for Virtual Asset Service Providers (VASPs), which include exchanges and custodians. Crucially, however, the law contains a transitional restriction. Clause 4(3) states that the TTSEC "shall not, on or before December 31, 2027, grant any authorization" to a VASP. This creates a moratorium on the issuance of licenses for local crypto businesses until the end of 2027. The Act imposes severe penalties (fines up to $5 million and imprisonment) for operating an unauthorized virtual asset business. The legislation was advanced, in part, to satisfy the upcoming Caribbean Financial Action Task Force (CFATF) mutual evaluation in March 2026.

The practical implications of this new law are significant for the business environment but do not alter the fundamental status of individual retail trading. The moratorium means that, for the next two years, there will be no licensed, regulated local cryptocurrency exchanges or wallet providers operating in Trinidad and Tobago. This restricts safe, local on-ramps for fiat currency. However, the law targets business activities, not individual possession or peer-to-peer transfers. Consequently, retail investors continue to access the market primarily through international trading platforms, though they often face practical hurdles as local commercial banks frequently block transactions to such foreign crypto exchanges due to de-risking policies.

Regulatory development is ongoing. Prior to the 2025 Act's passage, the TTSEC had announced plans to develop a regulatory framework by Q2 2024, focusing on crypto assets that behave like securities and incorporating AML/CFT requirements. The CBTT Governor has publicly advocated for regulatory clarity to promote innovation while ensuring investor protection, stating "inaction is not an option." The FIUTT remains active in monitoring virtual assets and contributes to the Joint Regulatory Fintech Committee.

In summary, retail cryptocurrency trading is **Allowed** because no law forbids it, but it is **UnRegulated** because a specific, operational regulatory framework is not yet fully in effect. The 2025 Act creates a future licensing regime but delays its implementation until 2028. Individuals trade at their own risk, with limited local consumer protections, often relying on international platforms while regulators continue to develop the formal oversight structure.

**3. Specific, Relevant Text Excerpts:**
*   **Joint Public Statement by CBTT, TTSEC, and FIUTT (January 25, 2019):** "Providers of cryptocurrencies/virtual currencies are neither regulated nor supervised by the Regulatory Authorities and that there are no legislative provisions under their purview that provide protection to consumers for losses arising from the use of virtual currencies."
*   **Virtual Assets and Virtual Assets Service Providers Act, 2025 (Clause 4(3)):** "The Commission shall not, on or before December 31, 2027, grant any authorisation to any person to conduct business as a virtual asset service provider." (Source: Guardian article, Sept 22, 2025)
*   **Central Bank of Trinidad and Tobago Statement on Financial Technology and Virtual Currencies:** "Virtual currencies are already a fact of life... the Bank strongly cautions that: a) the investments may be very volatile and risky; b) the transactions may facilitate money laundering, terrorism funding and other criminal activities; and c) investors/depositors will not have the backing of deposit insurance or a financial supervisory agency."
*   **Trinidad Guardian article (September 8, 2023):** "Trinidad and Tobago Securities and Exchange Commission (TTSEC) acting chief executive officer, Lystra Lucillio, 'cryptocurrency' reform is needed to allow for investor protection where crypto assets were considered as securities... by the second quarter of next year, the TTSEC intends to develop the regulatory framework."
*   **IMF Technical Assistance Report (July 2023):** "The existing legal regime (Securities Act 2012) does not cover new fintech developments, such as crypto assets activities."
*   **Crowdfund Insider article (November 22, 2025):** "The Virtual Assets and Virtual Assets Service Providers Bill, 2025... sets out a framework for licensing... with transitional restrictions before full authorisations are issued."

**4. Direct, Accessible URL Links to Specific Sources:**
*   Joint Public Statement on Virtual Currency (CBTT): https://www.central-bank.org.tt/sites/default/files/latest-news/joint-public-statement-virtual-currency.pdf
*   Virtual Assets and Virtual Assets Service Providers Bill, 2025 (Parliament): https://www.ttparliament.org/publications/bills/the-virtual-assets-and-virtual-assets-service-providers-bill-2025/
*   Central Bank Statement on Fintech and Virtual Currencies: https://www.central-bank.org.tt/sites/default/files/Central%20Bank%20of%20Trinidad%20and%20Tobago%20Statement%20on%20Financial%20Technology%20and%20Virtual%20Currencies%20FAW.pdf
*   IMF Technical Assistance Report on Fintech Regulation: https://www.imf.org/en/Publications/CR/Issues/2023/07/28/Trinidad-and-Tobago-Technical-Assistance-Report-Fintech-Regulation-and-Legislation-537318
*   Trinidad Guardian: T&T to get crypto regulations next year: https://www.guardian.co.tt/news/tt-to-get-crypto-regulations-next-year-6.2.1791199.1f2380a943
*   Guardian: Govt proposes crypto ban until December 2027: https://guardian.co.tt/news/govt-proposes-crypto-ban-until-december-2027
*   Crowdfund Insider: Trinidad and Tobago Passes Crypto Bill Ahead Of FATF Review: https://www.crowdfundinsider.com/2025/11/trinidad-and-tobago-passes-crypto-bill-ahead-of-fatf-review/
*   CBTT Panel Discussion on Crypto Asset Regulation: https://www.central-bank.org.tt/news/panel-discussion-presentations-considerations-crypto-asset-regulation