Government

Virtual Asset Business Act, No.1 of 2022

On June 2, 2022 the Virtual Asset Business Act No. 1 of 2022 (The Act), was enacted in the Commonwealth of Dominica and published in the Official Gazette. The supervisory Authority of this Act is the Financial Services Unit.

The Act applies to any person who whether before or after the commencement of this Act offers or operates in or from Dominica Virtual Asset Business.

Subject to Section 4 (1) of the Virtual Asset Business Act, a person SHALL NOT offer or operate in or from Dominica Virtual Asset Business without being Registered under this Act. Therefore, subject to Section 6 of the Act, any person who wishes to be registered to offer or operate Business shall apply to the Authority for registration.

Conditions for Virtual Asset Application and Registration are outlined in Section 6 of the Virtual Asset Business Act, 2022.

Any person conducting virtual asset business or wish to do so in Dominica should contact the Financial Services Unit at fsusec@dominica.aov.dm or +1(767) 266-3514 for more information.

Director Financial Services Unit Signature

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Financial Services Unit

The Financial Services Unit (FSU) of the Commonwealth of Dominica is the sole regulatory authority for the Non-Bank Financial Sector in Dominica and the Money Laundering Supervising Authority. The FSU is under the auspices of the Ministry of Finance and comprise of experienced professionals and is run on a day to day basis by a Director and a group of Examiners.

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