# Cayman Islands crypto regulation From the Four Pillars Asia Digital Asset Policy Center. Cite as: Four Pillars Asia Digital Asset Policy Center, "Cayman Islands crypto regulation", reviewed 2026-10-15, https://policy.4pillars.io/cayman-islands. Free to reuse with attribution: cite "Four Pillars Asia Digital Asset Policy Center" and link to the page the fact comes from (each market has its own URL), and to the primary source where one is given. Terms: https://policy.4pillars.io/developers#attribution Page: https://policy.4pillars.io/cayman-islands Region: Offshore hubs. Last reviewed: 2026-10-15. > Cayman has licensed crypto custodians and trading platforms since April 2025 and is a common home for token foundations and crypto funds. The Cayman Islands came to crypto as an established fund domicile, and its company law was ready before its crypto law. The Foundation Companies Law took effect on 18 October 2017, giving the Islands a company that needs no shareholders. The Legislative Assembly passed the Virtual Asset (Service Providers) Law on 20 May 2020, and on 31 October 2020 the Cayman Islands Monetary Authority (CIMA) opened phase one: anyone providing virtual asset services in or from the Islands had to register and meet anti-money laundering rules. The travel rule for virtual asset transfers followed on 1 July 2022, and the FATF removed Cayman from its grey list in October 2023. Phase two began on 1 April 2025, when custodians and trading platforms needed a full CIMA licence rather than a registration. Licensees must have at least three directors, one of them independent, hold capital of at least the higher of six months' fixed overheads and a risk-based amount, and segregate client assets; a trading platform licence costs KYD 100,000 to grant. CIMA added a Market Conduct Rule for all VASPs in February 2026. Its statistics counted 18 registered VASPs at the end of 2025. Law firm Carey Olsen reported the first full licence under the new regime on 5 February 2026, to JMSC Trading Limited, a BCXPro subsidiary, and Blockchain.com said its Cayman subsidiary was fully licensed for custody on 22 July 2026. Two parts of the Act still await a commencement order: the sandbox licence and the rules on issuing new virtual assets directly to the public. Most crypto firms come for the legal vehicles rather than the local market. Token projects and DAOs commonly use a foundation company, which can run without members and give governance rights to token holders through its constitution; the General Registry had 1,662 on its register at the end of 2025. Exchanges and developers use exempted companies, and crypto funds use exempted limited partnerships, segregated portfolio companies and the fund regimes, under which CIMA counted 13,187 mutual funds and 18,360 private funds on 30 September 2026. Since 24 March 2026 tokenised mutual and private funds have their own statutory framework, and their token issuance falls outside the VASP Act. There is no income, corporation or capital gains tax. The vehicle does not decide regulation: whatever the entity, selling new tokens to the public, exchange, transfer or custody in or from Cayman brings it under the VASP Act. The next tests are reporting and supervision. The Crypto-Asset Reporting Framework took effect on 1 January 2026, and Cayman crypto-asset service providers must file their first returns on 2026 activity by 30 June 2027. CIMA is consulting until 10 November 2026 on a rule for tokenised funds and on a separate cybersecurity rule for VASPs, and said in November 2025 that it is working towards a phase three that includes exploring a regulatory sandbox. The Caribbean Financial Action Task Force's on-site visit for Cayman's next mutual evaluation is scheduled for December 2027. ### Snapshot - Exchange licensing: Comprehensive. CIMA licenses custodians and trading platforms since 1 April 2025; 18 VASPs were registered at end-2025 - Stablecoin regime: Developing. No stablecoin-specific rules; issuers fall under general VASP registration, with no reserve standards - Tokenisation & RWA: Partial. Tokenised mutual and private funds framework gazetted March 2026; CIMA rule out for comment to 10 Nov - Retail access: Comprehensive. No retail ban; residents may use CIMA-registered or licensed VASPs bound by the Feb 2026 conduct rule - Tax clarity: Comprehensive. No income, corporation or capital gains tax; CARF crypto reporting in force from 1 January 2026 ### Quick answers **Is crypto legal in Cayman Islands?** Yes. Individuals can buy and sell crypto onshore through licensed providers. No retail ban; residents may use CIMA-registered or licensed VASPs bound by the Feb 2026 conduct rule. Four Pillars rates retail access in the Cayman Islands as comprehensive (reviewed 15 Oct 2026). **Who regulates crypto in Cayman Islands?** Four authorities shape crypto rules in the Cayman Islands. CIMA (Cayman Islands Monetary Authority): monetary authority and single financial regulator; registers and licenses virtual asset service providers under the VASP Act. MFSC (Ministry of Financial Services and Commerce): develops financial services policy and legislation, including the VASP, funds and CARF laws. DITC (Department for International Tax Cooperation): carries out the functions of the Tax Information Authority, the competent authority for tax information exchange. General Registry (Cayman Islands General Registry): registrar of companies and partnerships, including foundation companies, exempted companies and exempted limited partnerships. **Do crypto exchanges need a licence in Cayman Islands?** Yes, under a dedicated regime. CIMA licenses custodians and trading platforms since 1 April 2025; 18 VASPs were registered at end-2025. The main licences are VASP registration from CIMA, held by 18 as of 31 Dec 2025; Virtual asset service licence (custody and trading platforms) from CIMA; and Waiver for supervised persons from CIMA. Four Pillars rates exchange licensing in the Cayman Islands as comprehensive (reviewed 15 Oct 2026). **Are stablecoins regulated in Cayman Islands?** Not fully yet: the regime is being built. No stablecoin-specific rules; issuers fall under general VASP registration, with no reserve standards. Four Pillars rates its stablecoin regime in the Cayman Islands as developing (reviewed 15 Oct 2026). **How is crypto taxed in Cayman Islands?** No income, corporation or capital gains tax; CARF crypto reporting in force from 1 January 2026. Four Pillars rates tax clarity in the Cayman Islands as comprehensive (reviewed 15 Oct 2026). **Can real-world assets be tokenised in Cayman Islands?** Yes, though the regime is narrow or still phasing in. Tokenised mutual and private funds framework gazetted March 2026; CIMA rule out for comment to 10 Nov. Four Pillars rates tokenisation and real-world assets in the Cayman Islands as partial (reviewed 15 Oct 2026). **What changed most recently in Cayman Islands's crypto rules?** Oct 2026: CIMA consults on tokenised fund and VASP cybersecurity rules. Private sector comments on both draft rules are due by 10 November 2026. 24 Mar 2026: Tokenised funds framework gazetted. Amendments to the Mutual Funds, Private Funds and VASP Acts define tokenised funds and take their tokens out of the VASP Act. **What should companies watch next in Cayman Islands?** CIMA's draft Rule and Statement of Guidance on Tokenised Funds and its draft cybersecurity rule for VASPs, both open for comment until 10 November 2026. Whether the Cabinet commences phase three of the VASP Act: the sandbox licence and the rules on issuing newly created virtual assets directly to the public. The first CARF returns, due by 30 June 2027 for the 2026 calendar year, and the first exchanges with partner jurisdictions in 2027. ### Key numbers - 18 VASPs registered with CIMA (as of 2025-12-31) - 1,662 Foundation companies on the General Registry (as of 2025-12-31) - KYD 100,000 Fee to grant a virtual asset trading platform licence (non-local firm) (as of 2025-04-01) - 0% Tax on income, corporate profits and capital gains (as of 2026-10-15) ### What to watch - CIMA's draft Rule and Statement of Guidance on Tokenised Funds and its draft cybersecurity rule for VASPs, both open for comment until 10 November 2026. - Whether the Cabinet commences phase three of the VASP Act: the sandbox licence and the rules on issuing newly created virtual assets directly to the public. - The first CARF returns, due by 30 June 2027 for the 2026 calendar year, and the first exchanges with partner jurisdictions in 2027. - Preparation for the CFATF mutual evaluation, whose on-site visit is scheduled for December 2027, and the virtual asset sector national risk assessment. ### Regulators - **CIMA**, Cayman Islands Monetary Authority: Monetary authority and single financial regulator; registers and licenses virtual asset service providers under the VASP Act. Issues the Cayman dollar and, under the Monetary Authority Act, licenses and supervises banks, insurers, mutual and private funds, securities firms, trust and corporate service providers and VASPs. Has registered VASPs since 31 October 2020 and licensed custodians and trading platforms since 1 April 2025; 18 VASPs were registered at end-2025. Issued a Market Conduct Rule in February 2026 and in October 2026 opened consultations on tokenised funds and VASP cybersecurity. - **MFSC**, Ministry of Financial Services and Commerce: Develops financial services policy and legislation, including the VASP, funds and CARF laws. Assists elected officials in developing and implementing policy and legislation for financial services and commerce; the General Registry and the Department for International Tax Cooperation sit within it. Sponsored the 2025 VASP amendment on tokenised fund interests and consulted on the tokenised funds framework enacted in March 2026. The Premier, also Minister for Financial Services and Commerce, told CIMA's November 2025 VASP forum a broader sandbox may be considered. - **DITC**, Department for International Tax Cooperation: Carries out the functions of the Tax Information Authority, the competent authority for tax information exchange. A department of the Ministry of Financial Services and Commerce that administers Cayman's frameworks for international tax cooperation, including CRS, FATCA, country-by-country reporting and economic substance. Runs CARF under regulations in force from 1 January 2026. Existing Cayman reporting crypto-asset service providers had to register by 30 April 2026, and the first returns on 2026 activity are due by 30 June 2027. - **General Registry**, Cayman Islands General Registry: Registrar of companies and partnerships, including foundation companies, exempted companies and exempted limited partnerships. Incorporates and registers companies, limited liability companies and partnerships, and keeps their registers, annual returns and fees. Forms the vehicles crypto projects use but does not regulate virtual asset activity. Its register held 1,662 foundation companies at the end of 2025, after 500 were registered that year. ### Licences #### VASP registration - Regulator: CIMA - Legal basis: Virtual Asset (Service Providers) Act, sections 4(1)(a) and 6 - Covers: Virtual asset issuance to the public, exchange between virtual assets and fiat or other virtual assets, transfers, and financial services related to an issuance or sale, where no licence is required. - Requirements: A Cayman company, partnership, LLC or LLP, or a registered foreign company; natural persons may not provide virtual asset services; At least three directors, including one independent director, and CIMA approval before appointing senior officers; Fit and proper beneficial owners of 10% or more and senior officers; AML/CFT programme and travel rule compliance under Part 10A of the Anti-Money Laundering Regulations; KYD 1,000 application fee, then a registration fee of KYD 1,500 to KYD 15,000 depending on revenue and where clients are; Business plan, cybersecurity policies and CIMA's prior approval for new services or changes to the business plan - Holders: 18 (as of 2025-12-31) - Official register: - Page: https://policy.4pillars.io/cayman-islands/licences#lic-1 #### Virtual asset service licence (custody and trading platforms) - Regulator: CIMA - Legal basis: Virtual Asset (Service Providers) Act, sections 4(1)(b), 8, 10 and 11, in force since 1 April 2025 - Covers: Virtual asset custody, meaning safekeeping or administration of virtual assets or the keys that control them, and operating a centralised or decentralised trading platform that holds client assets or matches trades. - Requirements: Capital of the higher of a risk-based amount or six months' fixed overheads, or as CIMA sets, plus any buffer CIMA requires; Client assets identified and segregated from the firm's and its group's assets and protected from third-party creditors; Custody policy, secure key management, insurance where applicable and regular disclosure of storage methods to clients; At least three directors, one independent, and at least one with technical expertise in virtual asset operations; Trading platforms need listing and delisting procedures, client agreements, segregation of client funds and trade surveillance; KYD 5,000 application fee; grant fee of KYD 30,000 for custody or KYD 100,000 for a trading platform (KYD 3,000 or 10,000 for local companies) - Official register: - Page: https://policy.4pillars.io/cayman-islands/licences#lic-2 #### Waiver for supervised persons - Regulator: CIMA - Legal basis: Virtual Asset (Service Providers) Act, section 16 - Covers: Firms already licensed or registered by CIMA under another regulatory law, such as banks or securities businesses, whose virtual asset service does not materially change the activity they are supervised for. - Requirements: Must already be a supervised person under another Cayman regulatory law; Application describing the nature and scope of the virtual asset service; CIMA must be satisfied that existing supervision is sufficient to cover the virtual asset service; Granted only in exceptional circumstances; the firm must comply with any VASP Act provisions CIMA requires and CIMA may revoke the waiver - Official register: - Page: https://policy.4pillars.io/cayman-islands/licences#lic-3 #### Sandbox licence (enacted, not yet in force) - Regulator: CIMA - Legal basis: Virtual Asset (Service Providers) Act, Part 3 (sections 17 to 20), awaiting a commencement order - Covers: A temporary licence for innovative virtual asset or fintech services that need closer oversight than a registration or licence provides. - Requirements: Granted for up to one year and subject to review; Licensees must follow sandbox principles of honesty, integrity, fair treatment of customers and protection of customer data and assets; CIMA may limit the technologies, number or type of clients, transaction values and advertising; CIMA may impose licensee requirements or exempt the firm from some of them; CIMA's May 2025 licensing policy expressly excludes sandbox applications, pending phase three - Page: https://policy.4pillars.io/cayman-islands/licences#lic-4 ### Timeline - 2017-10-18: Foundation Companies Law takes effect. It created a type of company that can operate without members or shareholders. - 2020-05-20: Legislative Assembly passes the VASP Law. The Virtual Asset (Service Providers) Law, 2020 received assent on 25 May 2020. - 2020-10-31: Phase one: VASP registration begins. Firms providing virtual asset services in or from Cayman had to register with CIMA or notify it by 31 January 2021. - 2022-07-01: Travel rule takes effect. Part 10A of the Anti-Money Laundering Regulations requires VASPs to collect and pass on originator and beneficiary information. - 2023-10-27: FATF removes Cayman from its grey list. Cayman had been under increased monitoring since February 2021. - 2024-12-19: VASP (Amendment) Act, 2024 published. It set the licensing regime for custodians and trading platforms, a three-director minimum and stronger enforcement powers. - 2025-04-01: Phase two: licensing of custodians and trading platforms begins. Existing registrants offering custody or running a platform had 90 days to apply for a licence. - 2025-11-27: CARF Regulations published. They took effect on 1 January 2026, with first returns due by 30 June 2027. - 2026-02: CIMA issues its Market Conduct Rule for VASPs. It covers conflicts, client assets, insurance, marketing, onboarding, complaints and trading platforms, and was issued with a revised custody and platform rule. - 2026-02-05: First full VASP licence reported. Carey Olsen said CIMA granted it to JMSC Trading Limited, a subsidiary of BCXPro, after conditional approval in November 2025. - 2026-03-24: Tokenised funds framework gazetted. Amendments to the Mutual Funds, Private Funds and VASP Acts define tokenised funds and take their tokens out of the VASP Act. - 2026-10: CIMA consults on tokenised fund and VASP cybersecurity rules. Private sector comments on both draft rules are due by 10 November 2026. ### Primary sources - [Private Sector Consultation: Rule and Statement of Guidance on Tokenised Funds](https://www.cima.ky/upimages/commonfiles/PSCP-RuleandStatementofGuidance-TokenisedFunds_1791401705.pdf). Cayman Islands Monetary Authority (CIMA), 2026-10, consultation (comments due from industry by 10 November 2026). Proposes requirements for tokenised mutual and private funds under the March 2026 amendments, covering governance, investor register integrity, transferability, valuation, custody and disclosures. - [Private Sector Consultation: Rule and Statement of Guidance on Cybersecurity for VASPs](https://www.cima.ky/upimages/commonfiles/PrivateSectorConsultationPaperPSCP-CybersecurityforVASPs_1791402837.pdf). Cayman Islands Monetary Authority (CIMA), 2026-10, consultation (comments due from industry by 10 November 2026). Proposes a standalone cybersecurity rule for VASPs covering risks such as wallet infrastructure, private keys, smart contracts and third-party technology, beyond the cross-sector rule applied to VASPs since 2023. - [BitMart Not Regulated by CIMA](https://www.cima.ky/bitmart-et-al-not-regulated-by-cima). Cayman Islands Monetary Authority (CIMA), 2026-08-06, guidance. Public notice that BitMart and related entities, including GBM Foundation Company Ltd., have never been registered or licensed by CIMA to provide virtual asset services in or from Cayman. - [Virtual Asset (Service Providers) (Amendment) Act, 2026 (Act 4 of 2026)](https://www.cima.ky/upimages/lawsregulations/VirtualAssetServiceProvidersAmendmentAct,2026_1779831559.pdf). Parliament of the Cayman Islands, 2026-03-24, in force. Excludes digital equity tokens of tokenised mutual funds and digital investment tokens of tokenised private funds from virtual asset issuance, and repeals the 2025 amending Act. Gazetted 24 March 2026. - [Mutual Funds (Amendment) Act, 2026 (Act 5 of 2026)](https://www.cima.ky/upimages/lawsregulations/MutualFundsAmendmentAct,2026Act5of2026_1779830376.pdf). Parliament of the Cayman Islands, 2026-03-24, in force. Adds Part 3B on tokenised mutual funds: operator approval for token transfers, token risk disclosure in the offering document, annual confirmation of record-keeping, and CIMA power to restrict token features. - [Private Funds (Amendment) Act, 2026 (Act 6 of 2026)](https://www.cima.ky/upimages/lawsregulations/PrivateFundsAmendmentAct,2026Act6of2026_1779830741.pdf). Parliament of the Cayman Islands, 2026-03-24, in force. Creates the parallel framework for tokenised private funds, whose investment interests are represented by digital investment tokens, alongside the existing private fund rules. - [Rule: Obligations for the Provision of Virtual Asset Services, Virtual Asset Custodians and Virtual Asset Trading Platforms](https://www.cima.ky/upimages/regulatorymeasures/RuleVirtualAssetCustodiansandVirtualAssetTradingPlatformsRepealed_1770050011.pdf). Cayman Islands Monetary Authority (CIMA), 2026-02, in force. Governance, capital, risk management, cybersecurity and listing rules for licensed custodians and platforms. Capital must be the higher of a risk-based amount or six months' fixed overheads; conduct sections moved to the Market Conduct Rule in February 2026. - [Rule and Statement of Guidance: Market Conduct for Virtual Asset Service Providers](https://www.cima.ky/upimages/regulatorymeasures/RuleandStatementofGuidanceMarketConductforVASP_1770050113.pdf). Cayman Islands Monetary Authority (CIMA), 2026-02, in force. Applies to all VASPs: conflicts of interest, client asset segregation, insurance, marketing and risk warnings, onboarding, complaints, own-account trading, and specific duties for trading platforms and custodians. - [Virtual Asset Service Providers Registration Statistics](https://www.cima.ky/vasp-statistics). Cayman Islands Monetary Authority (CIMA), 2025-12-31, guidance. Quarterly counts of registered VASPs: 18 in Q4 2025, of which 3 ran trading platforms, 7 offered custody, 10 offered conversion and 1 issued virtual assets. - [Regulations Now Published on CARF and CRS](https://gov.ky/w/regulations-now-published-on-carf-and-crs). Cayman Islands Government, 2025-11-28, guidance. Announces the CARF and amended CRS regulations published on 27 November 2025; in-scope entities report 2026 information in 2027, when Cayman makes its first exchanges with partner jurisdictions. - [Tax Information Authority (International Tax Compliance) (Crypto-Asset Reporting Framework) Regulations, 2025 (SL 51 of 2025)](https://gov.ky/w/tax-information-authority-international-tax-compliance-crypto-asset-reporting-framework-regulations-2025-lg45-s2). Cabinet of the Cayman Islands, 2025-11-27, in force. Implements the OECD CARF from 1 January 2026: Cayman reporting crypto-asset service providers register by 30 April 2026 (or 31 January after the year they start) and file annual returns by 30 June. - [Desk-Based Review: Registered Virtual Asset Service Providers](https://www.cima.ky/upimages/publicationdoc/Desk-BasedReviewfo_1763481383.pdf). Cayman Islands Monetary Authority (CIMA), 2025-11, guidance. Findings from a review of 11 registered VASPs between September 2024 and February 2025, citing weaknesses in board composition, succession planning, business continuity, cybersecurity and custody arrangements. - [2025 VASP Regulatory Forum: Summary Highlights](https://www.cima.ky/upimages/commonfiles/2025VASPRegulatoryForumSummaryHighlights-November2025_1764177435.pdf). Cayman Islands Monetary Authority (CIMA), 2025-11, guidance. Summary of CIMA's 12 November 2025 forum: application expectations under phase two, supervisory findings, and work towards a phase three that includes exploring a regulatory sandbox. - [Virtual Asset (Service Providers) (Amendment) Act, 2025](https://gov.ky/w/virtual-asset-service-providers-amendment-act-2025-lg28-s2). Parliament of the Cayman Islands, 2025-07-22, superseded. Would have excluded tokenised fund interests from the definition of virtual asset issuance, retroactively. It was never brought into force and was repealed by Act 4 of 2026. - [Regulatory Policy: Registration or Licensing of Virtual Asset Service Providers](https://www.cima.ky/upimages/regulatorymeasures/RPy-RegistrationorLicensingofVASPs-27-May-25_1748960021.pdf). Cayman Islands Monetary Authority (CIMA), 2025-05, guidance. Sets the criteria CIMA uses to approve registrations, licences and waivers, including fit and proper tests for owners of 10% or more, governance, business plans and travel rule systems. Effective 30 May 2025. - [Gate.io and Gate Global Corp Not Registered With CIMA](https://www.cima.ky/gateio-and-gate-global-corp-not-registered-with-cima). Cayman Islands Monetary Authority (CIMA), 2025-04-11, guidance. Public notice, issued after complaints, that Gate.io and Gate Global Corp have never been authorised to conduct VASP business in or from the Cayman Islands. - [Virtual Asset (Service Providers) (Amendment) Regulations, 2025 (SL 19 of 2025)](https://www.cima.ky/upimages/lawsregulations/VirtualAssetServiceProvidersAmendmentRegulations2025_1743360905.pdf). Cabinet of the Cayman Islands, 2025-02-27, in force. Sets application documents and fees: KYD 1,000 to apply for registration, KYD 5,000 to apply for a licence, and grant fees of KYD 30,000 for custody and KYD 100,000 for a trading platform, lower for local companies. - [Virtual Asset (Service Providers) (Amendment) Act, 2024 (Commencement) Order, 2025 (SL 17 of 2025)](https://www.cima.ky/upimages/lawsregulations/VirtualAssetServiceProvidersAmendmentAct2024CommencementOrder2025_1743361283.pdf). Cabinet of the Cayman Islands, 2025-02-25, in force. Made on 25 February 2025, it brought most of the 2024 amendments into force on 1 April 2025 in respect of licences, registrations and waivers. The sandbox licence provisions were not commenced. - [Anti-Money Laundering Regulations (2025 Revision)](https://www.cima.ky/upimages/lawsregulations/Anti-MoneyLaunderingRegulations2025Revision,LG6,S1_1738770781.pdf). Cayman Islands Government, 2025-01-28, in force. Part 10A sets the travel rule for virtual asset transfers, requiring originating VASPs to collect and send originator and beneficiary information. CIMA states Part 10A has applied since 1 July 2022. - [Virtual Asset Service Providers FAQs](https://www.cima.ky/vasp-faq). Cayman Islands Monetary Authority (CIMA), 2025, guidance. CIMA's answers on scope, the move from registration to licensing on 1 April 2025, the 90-day transition, waivers, fees and travel rule compliance. - [Virtual Asset (Service Providers) (Amendment) Act, 2024 (Act 22 of 2024)](https://www.cima.ky/upimages/lawsregulations/VirtualAssetServiceProvidersAmendmentAct,2024_1743360840.pdf). Parliament of the Cayman Islands, 2024-12-19, in force. Phase two amendments: licensing for custodians and trading platforms, at least three directors including one independent director, prior approval of senior officers and business plan changes, and wider enforcement powers. - [Virtual Asset (Service Providers) Act (2024 Revision)](https://www.cima.ky/upimages/lawsregulations/VirtualAssetServiceProvidersAct2024Revision_1716397271.pdf). Cayman Islands Government, 2024-02-15, in force. Consolidated text of the core crypto law as revised at 31 December 2023, defining virtual assets and virtual asset services and requiring registration or a licence. Later amended by Act 22 of 2024 and Act 4 of 2026. - [Statement of Principles: Conduct of Virtual Asset Services](https://www.cima.ky/upimages/regulatorymeasures/SOPs-ConductofVirtualAssetServices_1615991076.pdf). Cayman Islands Monetary Authority (CIMA), 2021-02, guidance. General standards for all VASPs, including honesty and integrity, fair treatment of customers and protection of customer data, against which CIMA assesses compliance. - [Virtual Asset (Service Providers) Law, 2020 (Law 14 of 2020)](https://www.cima.ky/upimages/lawsregulations/VirtualAssetServiceProvidersLaw,2020_1594210684_1599485320.PDF). Legislative Assembly of the Cayman Islands, 2020-05-25, superseded. The original VASP law, passed on 20 May 2020 and assented to on 25 May 2020. Its phased regime started with registration on 31 October 2020; the text is now consolidated in later revisions.