Is crypto legal in Saint Vincent and the Grenadines? Regulation & rules (2026)

The Virtual Asset Business Act 2022 came into full force on 31 May 2025. All entities already engaged in virtual asset activities were required to submit FSA registration applications within 30 days (deadline: 31 July 2025); new entrants must obtain registration before commencing business.

The Financial Services Authority (FSA) licenses and supervises VASPs, maintains a public register of authorized Virtual Asset Businesses, conducts on-site inspections, and can revoke registrations. Only SVG-incorporated Business Companies (BCs) or Limited Liability Companies (LLCs) are eligible to apply.

Registered VASPs must maintain a minimum permanent deposit of XCD 100,000 (approx. USD 37,000) or 25% of the VASP's total financial obligations to clients, whichever is greater, as a client-protection safeguard.

All registered VASPs must implement the FATF Travel Rule — collecting, verifying, and transmitting originator and beneficiary information for virtual asset transfers made on behalf of third parties. The SVGFIU co-supervises AML/CFT obligations and receives Suspicious Activity Reports.

Registered virtual asset businesses must submit yearly audited financial statements and IT/cybersecurity audit reports to the FSA, providing ongoing supervisory oversight beyond the point of initial registration.

SVG imposes no capital gains tax, no corporate income tax, and no withholding tax on dividends for VASP businesses. Individual gains from crypto disposals are treated as capital gains and are generally not taxed under SVG law, though systematic professional trading activity could be reclassified as taxable income.