Virtual Asset (Service Providers) (Amendment) Bill, 2025

Government bill, sponsored by the Ministry of Financial Services and Commerce (FSC)

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Gazetted
Published in the Gazette
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Introduced
27 June 2025
First appeared on the order paper
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Passed
27 June 2025
Third reading
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Enacted
22 July 2025
Act 8/2025
5
In force
Awaiting commencement order

What this law does

This bill amends the Virtual Asset (Service Providers) Act to narrow what counts as an "issuance of virtual assets" (a sale of newly created virtual assets to the public). Interests that are already regulated as equity or investment interests under fund and securities laws would be excluded, subject to guidance or rules from the regulator. The change would also apply retroactively to any such tokenisations that happened before the amendment takes effect.

  • Revises the definition of "issuance of virtual assets" so that it excludes the sale of virtual service tokens.
  • Excludes equity interests under the Mutual Funds Act and Securities Investment Business Act, and investment interests under the Private Funds Act, from the definition, in line with guidance or rules issued by the regulator (the Authority).
  • Applies the revised definition retroactively to tokenisations of such equity or investment interests that occurred before the amendment comes into force.
  • Takes effect on a date to be set by Cabinet Order rather than immediately on passage.

Who it affects: virtual asset service providers, fund managers and issuers of tokenised equity or investment interests, investors in tokenised funds or securities, the Cayman Islands Monetary Authority (regulator)

This summary is AI-generated from the official document and may contain errors; it is not legal advice. Always consult the source text below.

Official documents

Debated in Parliament

Hansard sittings whose records mention this law:

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