The British Virgin Islands recently brought into force the Virtual Assets Service Providers Act 2022 (VASP Act, 2022) which establishes a new legal framework for the registration and supervision of individuals and businesses providing virtual asset services (VASP Act, 2022). The VASP Act was enacted on 1 February 2023. The VASP Act is applicable to both individuals and companies operating from the BVI and offering services, as well as BVI-incorporated companies involved in VASP business anywhere globally.