Is crypto legal in Grenada? Regulation & rules (2026)

Act No. 7 of 2021 mandates registration with GARFIN for any person or entity offering or operating virtual asset business in or from Grenada, including offshore entities serving Grenadian clients. Activities covered include exchange, transfer, safekeeping, and participation in issuances of virtual assets.

Virtual Asset Business Regulations 2024 (S.R.O. 9 of 2024) were published on the official Grenada laws portal, completing the operative registration framework. GARFIN began accepting applications in August 2023 ahead of formal gazettement. Registration fees are EC$2,500 (application) and EC$10,000 (registration).

Registered VASPs must maintain written AML/CFT policies, data-protection and cybersecurity safeguards, and a business risk assessment; annual audits and ongoing reporting apply. Operating without registration is a criminal offence: fine of EC$10,000 plus up to two years' imprisonment.

VABA 2021 explicitly excludes 'securities' and 'digital representations of fiat currencies' from the definition of virtual assets. Security tokens and fiat-backed stablecoins therefore fall outside GARFIN's VABA remit; no alternative regulatory regime for these instruments has been enacted.

The Eastern Caribbean Central Bank launched its blockchain-based CBDC DCash across participating member states including Grenada in March 2021. The ECCB has since suspended DCash 2.0 development and is pivoting to a regional fast-payment system, leaving the region's public digital-money landscape in transition.

Grenada levies no capital gains tax, inheritance tax, or wealth tax, meaning crypto disposals are not taxed as capital gains. The Inland Revenue Division has issued no guidance on staking rewards, airdrops, or mining; income from commercial crypto activities may be subject to general income tax at 10–30%.