WebDec 18, 2024 · As things stand now, the Cayman Islands has a fairly flexible regulatory stance toward crypto. Though an explicit regulatory framework has not yet been … WebAnother common issue cryptocurrency tax lawyers have to handle is related to tax compliance. If a person knowingly traded or sold cryptocurrency, and intentionally avoid paying tax, or reporting the sales or exchanges on a Schedule D/Form 8949, you may find yourself in hot water.

Top Ten Risks for the Crypto-Currency Investor: A ... - Cayman Islands Law

WebJan 12, 2024 · The VASP Act clearly establishes the legitimacy of digital assets and cryptocurrencies in the Cayman Islands and regulates businesses providing services related to virtual assets. Virtual assets themselves and parties dealing with virtual assets for their own purposes are generally not subject to specific regulation in the Cayman Islands. WebOct 13, 2024 · The introduction of the Cayman Islands Virtual Asset (Service Provider) Law 2024 (VASP Law) – gazetted on 25 May 2024 but not yet in force – which inter alia … blogybk.com

Economic substance in the Cayman Islands - Mourant

WebApr 10, 2024 · On March 13, 2024, the Canada Revenue Agency's Media Room released crypto tax tips about cryptocurrency mining. The CRA's very brief media release was notably light on details and included few genuinely helpful tax tips for Canadians who engaged in cryptocurrency mining. WebApr 24, 2024 · In August of 2024, SEC charged two Florida men and their Cayman Islands company for unregistered sales of more than $30 million of securities using smart contracts and so-called “decentralized finance” (DeFi) technology, and for misleading investors concerning the operations and profitability of their business DeFi Money Market. WebMay 25, 2024 · The Cayman Islands' recently passed cryptocurrency regulatory framework of 5 laws requires virtual asset service providers (VASP) like exchanges and ICOs to register for a VASP or sandbox … blog writing techniques