Sint Maarten (Dutch part)

{
  "analysis_text": "As of December 2025, the regulatory status of cryptocurrency in Sint Maarten is best classified as a \u0027Gray-Zone\u0027 due to the legislative lag between the country and its monetary union partner, Cura\u00e7ao. The two countries share the Central Bank of Cura\u00e7ao and Sint Maarten (CBCS), which has been aggressively pushing for a regulated VASP environment. While Cura\u00e7ao successfully enacted the \u0027Landsverordening toezicht virtuele activa dienstverleners\u0027 (National Ordinance on the Supervision of Virtual Asset Service Providers) in March 2025, Sint Maarten\u0027s parliament has been slower to pass the corresponding legislation. This creates a complex environment where the regulator (CBCS) expects compliance and registration based on regional standards, but the specific statutory authority in Sint Maarten is pending or incomplete.\n\nThe CBCS has issued mandates requiring Virtual Asset Service Providers (VASPs) to register, citing AML/CFT concerns and FATF compliance. In June 2024, the CBCS explicitly noted that while the legal framework was being finalized in Cura\u00e7ao, similar legislation was \u0027still in progress\u0027 for Sint Maarten, yet urged entities to register voluntarily. This \u0027enforcement without full law\u0027 is a hallmark of a Gray-Zone status. Entities operating in Sint Maarten face uncertainty: they are subject to FIU reporting under general AML laws (NORUT) but lack a clear, enacted licensing regime specific to their industry.\n\nPreviously, in 2023, there was a high-profile political push by Member of Parliament Rolando Brison to designate the Tron (TRX) blockchain as the country\u0027s national blockchain and legal tender. This proposal generated significant media attention but ultimately failed to gain legislative traction or Central Bank support. The CBCS has consistently warned against the risks of unregulated crypto assets and opposed the adoption of crypto as legal tender, further muddying the waters with conflicting signals between political initiatives and regulatory prudence.\n\nFrom a tax perspective, Sint Maarten remains attractive for individual retail traders. The jurisdiction does not levy a capital gains tax on personal assets, meaning profits from crypto trading are generally tax-free for individuals. However, practical barriers remain high. Local banks, such as the Windward Islands Bank, maintain strict compliance policies that often result in the blocking of crypto-related transactions. Additionally, a 1% foreign exchange license fee on outgoing transfers adds a friction cost to funding international crypto exchange accounts.",
  "confidence_level": "High",
  "executive_summary": "Retail cryptocurrency trading in Sint Maarten currently operates in a regulatory Gray-Zone. While the shared Central Bank of Cura\u00e7ao and Sint Maarten (CBCS) has successfully implemented a licensing regime in Cura\u00e7ao as of March 2025, the corresponding legislative framework for Sint Maarten remains in a pending or transitional phase. Consequently, while the CBCS requests VASP registration and enforces AML compliance, the specific \u0027National Ordinance on Virtual Asset Service Providers\u0027 for Sint Maarten has not been definitively enacted, creating a discrepancy where supervision is active but the legal basis is lagging.",
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      "title": "smn-news.com",
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      "resolved_url": "https://www.globalcitizensolutions.com/crypto-tax-haven/",
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    {
      "resolved_url": "https://summ.com/at/blog/top-crypto-tax-countries",
      "title": "summ.com",
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  "status": "Gray-Zone",
  "structured_data": {
    "confidence_level": "High",
    "detailed_analysis": "As of December 2025, the regulatory status of cryptocurrency in Sint Maarten is best classified as a \u0027Gray-Zone\u0027 due to the legislative lag between the country and its monetary union partner, Cura\u00e7ao. The two countries share the Central Bank of Cura\u00e7ao and Sint Maarten (CBCS), which has been aggressively pushing for a regulated VASP environment. While Cura\u00e7ao successfully enacted the \u0027Landsverordening toezicht virtuele activa dienstverleners\u0027 (National Ordinance on the Supervision of Virtual Asset Service Providers) in March 2025, Sint Maarten\u0027s parliament has been slower to pass the corresponding legislation. This creates a complex environment where the regulator (CBCS) expects compliance and registration based on regional standards, but the specific statutory authority in Sint Maarten is pending or incomplete.\n\nThe CBCS has issued mandates requiring Virtual Asset Service Providers (VASPs) to register, citing AML/CFT concerns and FATF compliance. In June 2024, the CBCS explicitly noted that while the legal framework was being finalized in Cura\u00e7ao, similar legislation was \u0027still in progress\u0027 for Sint Maarten, yet urged entities to register voluntarily. This \u0027enforcement without full law\u0027 is a hallmark of a Gray-Zone status. Entities operating in Sint Maarten face uncertainty: they are subject to FIU reporting under general AML laws (NORUT) but lack a clear, enacted licensing regime specific to their industry.\n\nPreviously, in 2023, there was a high-profile political push by Member of Parliament Rolando Brison to designate the Tron (TRX) blockchain as the country\u0027s national blockchain and legal tender. This proposal generated significant media attention but ultimately failed to gain legislative traction or Central Bank support. The CBCS has consistently warned against the risks of unregulated crypto assets and opposed the adoption of crypto as legal tender, further muddying the waters with conflicting signals between political initiatives and regulatory prudence.\n\nFrom a tax perspective, Sint Maarten remains attractive for individual retail traders. The jurisdiction does not levy a capital gains tax on personal assets, meaning profits from crypto trading are generally tax-free for individuals. However, practical barriers remain high. Local banks, such as the Windward Islands Bank, maintain strict compliance policies that often result in the blocking of crypto-related transactions. Additionally, a 1% foreign exchange license fee on outgoing transfers adds a friction cost to funding international crypto exchange accounts.",
    "executive_summary": "Retail cryptocurrency trading in Sint Maarten currently operates in a regulatory Gray-Zone. While the shared Central Bank of Cura\u00e7ao and Sint Maarten (CBCS) has successfully implemented a licensing regime in Cura\u00e7ao as of March 2025, the corresponding legislative framework for Sint Maarten remains in a pending or transitional phase. Consequently, while the CBCS requests VASP registration and enforces AML compliance, the specific \u0027National Ordinance on Virtual Asset Service Providers\u0027 for Sint Maarten has not been definitively enacted, creating a discrepancy where supervision is active but the legal basis is lagging.",
    "important_considerations": [
      "Tax Treatment: Capital gains on cryptocurrency for individuals are currently untaxed (0%) as Sint Maarten lacks a specific capital gains tax regime for personal assets.",
      "Banking Restrictions: Local banks (e.g., Windward Islands Bank) are highly risk-averse regarding crypto due to de-risking policies.",
      "Foreign Exchange Control: A 1% license fee applies to foreign exchange transactions (outgoing transfers), which impacts crypto arbitrage and funding of international exchange accounts.",
      "Regulatory Lag: Sint Maarten shares a Central Bank with Cura\u00e7ao but has a separate parliament, causing delays in enacting parallel legislation."
    ],
    "key_regulatory_pillars": [
      "Centrale Bank van Cura\u00e7ao en Sint Maarten (CBCS) - Primary Financial Regulator",
      "Financial Intelligence Unit (FIU) Sint Maarten - AML/CFT Reporting Authority",
      "National Ordinance on the Reporting of Unusual Transactions (NORUT) - Existing AML Framework",
      "Pending National Ordinance on Virtual Asset Service Providers - Draft Crypto-Specific Law"
    ],
    "landmark_legislation": [
      {
        "date_enacted": null,
        "identifier": "Pending Enactment",
        "name": "Draft National Ordinance on Virtual Asset Service Providers",
        "summary": "A proposed law designed to align Sint Maarten with FATF Recommendation 15, requiring VASP registration and compliance. Its counterpart in Cura\u00e7ao was enacted in March 2025.",
        "url": null
      },
      {
        "date_enacted": "2013-01-01",
        "identifier": "AB 2013, GT no. 479",
        "name": "National Ordinance on the Reporting of Unusual Transactions (NORUT)",
        "summary": "General AML/CFT legislation requiring financial service providers to report suspicious transactions to the FIU. Applies to crypto transactions under \u0027value transfer\u0027 interpretations.",
        "url": "http://www.fiu-sxm.net/legislation.php"
      },
      {
        "date_enacted": null,
        "identifier": "Draft Initiative",
        "name": "Initiative Law on Tron Legal Tender (Proposal)",
        "summary": "A 2023 proposal by MP Rolando Brison to designate Tron (TRX) as legal tender. The proposal faced opposition from the Central Bank and did not pass into law.",
        "url": null
      }
    ],
    "notes_and_comments": "The analysis assumes the current date is December 12, 2025. The divergence between Cura\u00e7ao (regulated) and Sint Maarten (pending) is the critical factor. While the Central Bank treats them as a single monetary union, the legislative process is separate, causing the \u0027Gray-Zone\u0027 classification for Sint Maarten specifically.",
    "primary_sources": [
      {
        "date": "2025-11-17",
        "key_quote": "PB 2025 nr. 18 Landsverordening toezicht virtuele activa dienstverleners (Cura\u00e7ao)",
        "source_type": "regulator",
        "title": "Virtual Assets Service Providers - CBCS Legislation List",
        "url": "https://www.centralbank.cw/legislation-guidelines/cbcs-legislation/virtual-assets-service-providers"
      },
      {
        "date": "2024-06-25",
        "key_quote": "In anticipation of corresponding legislation in Sint Maarten, similar institutions offering their services in or from Sint Maarten are also requested to register with the CBCS.",
        "source_type": "regulator",
        "title": "Mandatory Registration for Virtual Asset Service Providers",
        "url": "https://www.centralbank.cw/publications/press-releases/2024/mandatory-registration-for-virtual-asset-service-providers"
      },
      {
        "date": "2017-03-28",
        "key_quote": "Consumers should be aware that providers of virtual currencies are not regulated.",
        "source_type": "regulator",
        "title": "CBCS Warns Consumers of Virtual Currencies",
        "url": "https://www.centralbank.cw/publications/press-releases/2017/cbcs-warns-consumers-of-virtual-currencies"
      }
    ],
    "remaining_uncertainties": [
      "The exact date when the Sint Maarten parliament will enact the \u0027National Ordinance on Virtual Asset Service Providers\u0027 to match Cura\u00e7ao\u0027s framework.",
      "Whether the CBCS is currently imposing fines or sanctions on Sint Maarten-based VASPs for non-registration despite the law being pending."
    ],
    "secondary_sources": [
      {
        "date": "2023-01-01",
        "key_quote": "The taxation in Sint Maarten on cryptocurrencies held by private individuals is nil.",
        "source_type": "analysis",
        "title": "Cryptocurrency in St Maarten - Tax Aspects",
        "url": "https://www.caribbeantaxlawjournal.com"
      },
      {
        "date": "2022-03-28",
        "key_quote": "It would behoove the Central Bank... to inform the public... on its present stance.",
        "source_type": "news",
        "title": "MP Wescot-Williams wants CBCS statement on Crypto",
        "url": "https://www.smn-news.com/st-maarten-st-martin-news/40038-mp-wescot-williams-wants-the-central-bank-of-curacao-and-st-maarten-to-make-an-urgent-public-statement-regarding-crypto-currencies-legal-tender-and-financial-supervision.html"
      }
    ],
    "status": "Gray-Zone"
  }
}