Saint Vincent and the Grenadines

{
  "analysis_text": "As of December 2025, Saint Vincent and the Grenadines (SVG) has successfully transitioned from a largely unregulated offshore jurisdiction for cryptocurrency entities to a fully regulated environment under the \u0027Allowed-Regulated\u0027 status. The pivotal shift occurred with the full enforcement of the **Virtual Asset Business Act, 2022 (VABA)**, which became effective on **May 31, 2025**. This legislation brought the country into alignment with global FATF standards, ending the era where SVG entities could offer crypto services without specific oversight.\n\nThe **Financial Services Authority (FSA)** is the designated regulator for the sector. Under the new regime, all entities providing services such as exchange (fiat-to-crypto or crypto-to-crypto), transfer, custody, or issuance of virtual assets must be registered. The FSA implemented a strict transition period, requiring pre-existing businesses to submit registration applications by **July 31, 2025**, or face administrative striking off. This effectively purged the market of non-compliant shell companies that previously utilized SVG structures for unregulated crypto activities.\n\nRetail traders in SVG are legally permitted to buy, sell, and hold cryptocurrencies. The regulation focuses on the intermediaries (VASPs) rather than the individual user. However, users now face stricter **KYC/AML** checks when interacting with local entities, as the VABA mandates robust customer due diligence and compliance with the \u0027Travel Rule\u0027 for transaction reporting. The FSA maintains a public register of licensed Virtual Asset Businesses to protect consumers.\n\nDespite the national regulations, the **Eastern Caribbean Central Bank (ECCB)**, which serves as the monetary authority for the region, maintains a cautious stance. While it pilots its own CBDC (DCash), the ECCB frequently issues warnings regarding the volatility and risks of private cryptocurrencies. It does not regulate them directly, leaving supervision to national bodies like the SVG FSA. This creates a dual-layer environment where national law permits and regulates the industry, while the regional central bank advises caution.",
  "confidence_level": "High",
  "executive_summary": "Retail cryptocurrency trading is legal and formally regulated in Saint Vincent and the Grenadines following the enforcement of the Virtual Asset Business Act (VABA) on May 31, 2025. The Financial Services Authority (FSA) mandates that all Virtual Asset Service Providers (VASPs) register and comply with strict AML/CFT standards. While the jurisdiction was historically known for its light-touch approach to forex and crypto entities, the new framework has introduced mandatory licensing, capital requirements, and ongoing supervision.",
  "grounding_urls": [
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      "title": "bbcincorp.com",
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      "title": "eccb-centralbank.org",
      "url": "https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGqtvUDAZDQY0Y9gwTttTRt91OW16t-C04L0v8JfQ_bHMGlQLEmY_avZvyqhVo7xeFkmS49KwZouoI40GcstHbjkO3XGrBXeX6YSA0MkUJ9KwsmwqG7_hSmP7zGxjQV7sAmcxXIC59iWmGa9MBqmPq94SGxVaRzbJr-xYfL5j3egCqpsWismxGoQGI="
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      "resolved_url": "https://blog.mexc.com/wiki/is-crypto-legal-in-saint-vincent-and-the-grenadines/",
      "title": "mexc.com",
      "url": "https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEkh6fV7Ugflbv3mWqklmnklozr6J6PdbH7Z7F-5e86LILPE224MgjiMWjFCdy0OB45mSjfISFIMDGU8lQYulEIxPr_HGtj-zFPFmx80jKgyYsE5tYQzS2jMLTtbvNCXllPuvfinctAafVkfFHeX6jR4f9u61QXj44G2FzMnI8KPsNOAUsbJy6yBdc="
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      "resolved_url": "https://gofaizen-sherle.com/crypto-license/saint-vincent-and-grenadines",
      "title": "gofaizen-sherle.com",
      "url": "https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQH5sjM1fNftZVeC05qfhtzCu_5Wfv7KlZqmFOraz0nyiFkMOvhgegvJdPBqPO0spipgSMNw8UGizmrph8dDBHYBbYPXKfM5Fhjz05eyFNaCsuYOoqqKSxB9kVnielD1fBA3sI3Hs0UiQ5OaI-Z0Mbagv00LGz2ulCTv2rgngoQYwxzt"
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    {
      "resolved_url": "https://legalbison.com/crypto-license/saint-vincent-and-grenadines/",
      "title": "legalbison.com",
      "url": "https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGazOfH7AD1796GDIKzNWirrJzrDEQfNqna_AEX-DfuvusrfssUS97enLr63K5JJHWp1SF1nx7arkRGMTYimgCyVIXz0CrjBS7B-rzh_WLXH1EAutlOrCbcK8KsQ44LIQy6hvdYlF-mGOYdkY81LcRBeSuzHFacCm7YzAq70lk="
    },
    {
      "resolved_url": "https://fsasvg.com/implementation-of-the-virtual-asset-business-act-commencement-of-the-registration-process-for-virtual-asset-businesses/",
      "title": "fsasvg.com",
      "url": "https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHcGXHu-isxB6u5sF-GpjJlzuiQUfaAPOeqAdXQCk9YOKCCSCTRFTzIu2E0WCP6I3aBoyqPd0CUNzqsWgf193qeyY_6xiFpld2r1LMaB0hDq2A4P1vkcUyJ2qIGgNLucoUjE_nfrnqXfz5IkVW8WVPRHMkTXS_7_gO5Sy3F_mAxFuniwKF3WCE_4XSSs1I95GhR2vX-lQegmB5EHvIutIoslZ-OMb9BkZRb4IFw8pxhdJV2oraetL_4k4CwLw7NfpbeeCS2SIA="
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    {
      "resolved_url": "https://www.eccb-centralbank.org/news/cryptocurrencies-risks-and-benefits",
      "title": "eccb-centralbank.org",
      "url": "https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEk5nvOOHtu2sTNigsVWvvkzb8ofqemm6G-3NcsurgosVUAHU3aRC-Dk0pvwSYcakFAsTpv3tvQzoFTE3wqhnxRgiA5hR58Gf4JW9cqrbwxhTgGj18zGZ8Zz0kxHkZYNUdL5oKoiycdnfOZK_OOD0rH3rOUiKxooV0mbI1h8YugEJjHUUY="
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    {
      "resolved_url": "https://www.cryptocurrency10.com/en/cryptocurrencies-regulations-in-the-caribbean",
      "title": "cryptocurrency10.com",
      "url": "https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEbg6rs3NRid0znG6mCb6eGSg6fVBg33ThgSnO4YihY1F2dd3v_QI5WM2312_WALKJZd3X7b-262qWPQZI50CjtKhwGGKTj1HpHkjAj7acBaotPZYCWUaswel_UJFjyZp62wazO-fAtBbGGKA--BWQbeYa3AhIXqyzIEsNzQ0_0CfBJJXxtrLbqj1UtCQ=="
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      "resolved_url": "https://coingeek.com/eastern-caribbean-central-bank-considers-crypto-for-legal-tender/",
      "title": "coingeek.com",
      "url": "https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFKBu-51g7vlTMgJ0mPTvBBkZlBAYjqyRozOXbHleBPL5P4c6kHijfoNXwig7_RSttbfPEVH-zy5mHEvAGSuSDzqeerBIZ37wnMuggG7SshmubdfxdKuSaH2RqkteTlHR36PJM8ERkyZCCB6BdldhrdPsh_45jIVyEx4mxVSfFRB9PavlFRTS-QB6256OLuUsPU"
    },
    {
      "resolved_url": "https://fsasvg.com/virtual-asset-businesses/",
      "title": "fsasvg.com",
      "url": "https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQF50t2R5o3OcRFjLTkhvNZjwaNDG92r6LPTDQpSByNg2u_FJvEElAd7HQHk6gk23cuXR4x8eD50STn5JP8fwFZXtN5V_0L9oBilJMU4Pq82Gyn8BfkfIdkkNHBUTaPgmcpN1fVYuHkw"
    },
    {
      "resolved_url": "https://www.zitadelleag.com/news/st-vincent-and-the-grenadines-virtual-asset-provider-regulation",
      "title": "zitadelleag.com",
      "url": "https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEI28X7hGXnoygWkZrEyRlivGTf41RTlZoGmxDsh5AWkAZalYAZXfQSP5n238rXrJ2cngbdWx_8QQCMwgt0FNpWtP_HUyAV-_ZTJUOv4knPpT8eL1-SOb8Q4MfepyPUa0lRSudE8zHdwFXXNn6L8spzLYMhQZmV5eOvQBlnytPev4ir7HSEvRQ0NiGucoCBuHvdGEzcEGHHEez4LQ=="
    },
    {
      "resolved_url": "https://www.eccb-centralbank.org/news/advisory-eccb-advises-public-to-be-mindful-of-risks-associated-with-cryptocurrencies",
      "title": "eccb-centralbank.org",
      "url": "https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGr3ImbbFRcCyEAbww47QZLbHvSTdOrdtgXYbUeyU-RXOslcJvWYb2hyNHZvRh5rpxzudgxja4_VEKO3PjP_VNuV-wiIXQXSVJkl-CN2OREnstS3gpzdx-5usRU4onzObs39bpFYzhQ2193ay2EY5dvAq7imIWf22BQ-2OwF80Zds5N7MfZ3Kl6NJipnktTh_6S4FTqjFOboEJ7Tq_J0xPv-TZHuJK_3VaOllAYX9th1wesn9v4"
    }
  ],
  "status": "Allowed-Regulated",
  "structured_data": {
    "confidence_level": "High",
    "detailed_analysis": "As of December 2025, Saint Vincent and the Grenadines (SVG) has successfully transitioned from a largely unregulated offshore jurisdiction for cryptocurrency entities to a fully regulated environment under the \u0027Allowed-Regulated\u0027 status. The pivotal shift occurred with the full enforcement of the **Virtual Asset Business Act, 2022 (VABA)**, which became effective on **May 31, 2025**. This legislation brought the country into alignment with global FATF standards, ending the era where SVG entities could offer crypto services without specific oversight.\n\nThe **Financial Services Authority (FSA)** is the designated regulator for the sector. Under the new regime, all entities providing services such as exchange (fiat-to-crypto or crypto-to-crypto), transfer, custody, or issuance of virtual assets must be registered. The FSA implemented a strict transition period, requiring pre-existing businesses to submit registration applications by **July 31, 2025**, or face administrative striking off. This effectively purged the market of non-compliant shell companies that previously utilized SVG structures for unregulated crypto activities.\n\nRetail traders in SVG are legally permitted to buy, sell, and hold cryptocurrencies. The regulation focuses on the intermediaries (VASPs) rather than the individual user. However, users now face stricter **KYC/AML** checks when interacting with local entities, as the VABA mandates robust customer due diligence and compliance with the \u0027Travel Rule\u0027 for transaction reporting. The FSA maintains a public register of licensed Virtual Asset Businesses to protect consumers.\n\nDespite the national regulations, the **Eastern Caribbean Central Bank (ECCB)**, which serves as the monetary authority for the region, maintains a cautious stance. While it pilots its own CBDC (DCash), the ECCB frequently issues warnings regarding the volatility and risks of private cryptocurrencies. It does not regulate them directly, leaving supervision to national bodies like the SVG FSA. This creates a dual-layer environment where national law permits and regulates the industry, while the regional central bank advises caution.",
    "executive_summary": "Retail cryptocurrency trading is legal and formally regulated in Saint Vincent and the Grenadines following the enforcement of the Virtual Asset Business Act (VABA) on May 31, 2025. The Financial Services Authority (FSA) mandates that all Virtual Asset Service Providers (VASPs) register and comply with strict AML/CFT standards. While the jurisdiction was historically known for its light-touch approach to forex and crypto entities, the new framework has introduced mandatory licensing, capital requirements, and ongoing supervision.",
    "important_considerations": [
      "**Transition Period Expired:** The deadline for existing crypto businesses to register was July 31, 2025. Entities operating without registration after this date are non-compliant.",
      "**Capital Requirements:** VASPs must maintain a statutory deposit (min EC$100,000) and paid-up capital (EC$300,000).",
      "**Physical Presence:** Foreign entities must appoint a local Principal Representative.",
      "**Regional Currency:** The ECCB (Central Bank) does not regulate crypto directly but issues its own CBDC (DCash) and warns of crypto risks.",
      "**Historical Context:** Prior to May 2025, SVG was a \u0027Gray-Zone\u0027 jurisdiction where many brokers operated without specific crypto regulation; this \u0027wild west\u0027 era has legally ended."
    ],
    "key_regulatory_pillars": [
      "Financial Services Authority (FSA) - Primary Regulator",
      "Virtual Asset Business Act 2022 (Enforced May 2025)",
      "Mandatory VASP Registration/Licensing",
      "Anti-Money Laundering and Terrorist Financing Regulations",
      "Eastern Caribbean Central Bank (ECCB) - Regional Monetary Authority"
    ],
    "landmark_legislation": [
      {
        "date_enacted": "2022-05-31",
        "identifier": "Act No. 9 of 2022",
        "name": "Virtual Asset Business Act, 2022",
        "summary": "Establishes the legal framework for the registration, supervision, and operation of virtual asset businesses. Defines virtual assets, mandates VASP registration, and sets penalties for non-compliance. Fully enforced as of May 31, 2025.",
        "url": "https://svgfsa.com/legislation/"
      },
      {
        "date_enacted": "2025-05-31",
        "identifier": "Amendment Act 2025",
        "name": "Virtual Asset Business (Amendment) Act, 2025",
        "summary": "Clarified the commencement date of the principal Act and expanded definitions to ensure regulatory obligations apply broadly. Set the transition deadline for existing entities to July 31, 2025.",
        "url": null
      },
      {
        "date_enacted": "2014-01-01",
        "identifier": "2014 / Amended 2017",
        "name": "Anti-Money Laundering and Terrorist Financing Regulations",
        "summary": "General AML/CFT framework applicable to all financial entities, including VASPs, requiring customer due diligence (CDD), record keeping, and reporting of suspicious transactions.",
        "url": null
      }
    ],
    "notes_and_comments": "The \u0027Current Time\u0027 of December 2025 is critical for this analysis. In previous years (2023-2024), SVG was often cited as \u0027Unregulated\u0027 or \u0027Gray-Zone\u0027 because the 2022 Act was passed but not fully enforced/implemented. The activation of the registry in mid-2025 definitively moved the status to \u0027Allowed-Regulated\u0027.",
    "primary_sources": [
      {
        "date": "2025-05-31",
        "key_quote": "The application process for the registration of virtual asset businesses... will formally commence from June 2nd 2025.",
        "source_type": "regulator",
        "title": "Implementation of the Virtual Asset Business Act \u0026 Commencement of Registration",
        "url": "https://fsasvg.com/virtual-asset-business-act-implementation"
      },
      {
        "date": "2025-12-08",
        "key_quote": "The Virtual Asset Business Act was enacted in 2022 to provide a legislative framework to regulate virtual asset products and virtual asset service providers.",
        "source_type": "regulator",
        "title": "Virtual Asset Businesses Info - SVG FSA",
        "url": "https://fsasvg.com/virtual-assets/"
      },
      {
        "date": "2025-07-02",
        "key_quote": "The ECCB does not regulate Bitcoin Cash... The public is hereby advised to be mindful of the risks.",
        "source_type": "official_government",
        "title": "Advisory: ECCB Advises Public to be Mindful of Risks Associated with Cryptocurrencies",
        "url": "https://www.eccb-centralbank.org/news/advisory-eccb-advises-public-risks-cryptocurrencies"
      }
    ],
    "remaining_uncertainties": [
      "The exact number of licenses issued since the July 2025 deadline is not publicly quantified in the snippets, though the registry search function exists.",
      "The practical enforcement speed against the thousands of legacy \u0027forex/crypto\u0027 IBCs that may not have complied by the deadline remains to be seen."
    ],
    "secondary_sources": [
      {
        "date": "2025-11-17",
        "key_quote": "Until 2022, crypto business was unregulated in SVG, but the Virtual Asset Business Act that was passed in 2022 and enforced in 2025 has introduced the obligation to apply for a crypto license.",
        "source_type": "analysis",
        "title": "SVG Crypto License - Costs and Process in 2025",
        "url": "https://legalbison.com/svg-crypto-license"
      },
      {
        "date": "2025-05-31",
        "key_quote": "This new framework came into effect on 31 May 2025, requiring all businesses involved in virtual asset activities to register.",
        "source_type": "analysis",
        "title": "St. Vincent and the Grenadines VASP Regulation: Full Licensing Guide",
        "url": "https://zitadelleag.com/svg-vasp-regulation"
      }
    ],
    "status": "Allowed-Regulated"
  }
}