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BLOCKCHAIN OF CAYMAN STILL WITHOUT REGULATIONS

In a recent conference, the Cayman Islands government announced that a timetable to introduce legislation for the blockchain sector of the Caribbean jurisdiction has not yet been formalized.

Cayman-registered blockchain companies are among the fastest growing ones in the world and the officials Fintech and industry leaders argue that the non-existence of blockchain regulations is detrimental to the reputation of the jurisdiction of Caymans, and it is potentially harmful to the entire sector.

Francis Arana, head of the Attorney General’s anti-money laundering unit argues that a date for the possible application of the legislation will probably be established next year.

The cryptocurrency regulation will be at the center of the Caribbean Financial Action Task Force (CFATF), which will be held in October.

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