Robinson Wants Virtual Assets Law to Go Beyond Containing Risk
6 Articles
6 Articles
Robinson wants virtual assets law to go beyond containing risk
The Virtual Asset Service Providers (VASP) Act, 2026, which provides for the regulation of virtual assets in Jamaica was passed in the Lower House on Tuesday with three amendments. A virtual asset is a digital representation of value that can be traded, transferred, or used for payment and investment.
The House of Representatives of Jamaica is discussing a project that would require licenses from the Financial Services Commission from virtual asset companies serving residents, even if they operate from abroad. The proposal provides for controls against financial offences and criminal penalties for unlicensed providers, but would not convert cryptocurrencies into legal tender.
Jamaican Lawmakers Debate New Law to Regulate Crypto Firms - Invest In Crypto News
Key Takeaways Jamaica’s House of Representatives began debate Sept. 22 on the Virtual Assets Service Providers Act.The law subjects crypto firms to international banking standards to protect residents using overseas apps.Unlicensed providers face criminal charges, though FSC licenses will not grant legal tender status to crypto. Defining Virtual Asset Businesses The Jamaican House of Representatives […]
Bitcoin.com
BITRSSJamaican Lawmakers Debate New Law to Regulate Crypto Firms
Jamaican lawmakers are debating the Virtual Assets Service Providers Act, a proposed law that would establish a licensing and supervisory framework for digital currency businesses. Defining Virtual Asset Businesses The Jamaican House of Representatives recently began debating legislation that aims to create a formal licensing and regulatory framework for digital currency exchanges and other virtual […]
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