Virtual assets including cryptocurrencies, and virtual asset activities, continue to gain in prominence, as confidence in the underlying technology increases, supported by a growing distrust in traditional systems. Trinidad and Tobago (‘T&T’) has recently formalised its attempt to begin regulation of the virtual asset sector, with the recent passage of the Virtual Assets and Virtual Asset Service Providers Act, Act No. 12 of 2025 (the ‘VASP Act’), which was assented to on 23 December 2025.
The VASP Act regulates the conduct of business concerning virtual assets and virtual asset service providers in T&T. It introduces a number of amendments to the regulatory framework that was previously proposed by the Virtual Assets and Virtual Assets Service Providers Bill, 2025 (the ‘Bill’).
Virtual assets are defined in the VASP Act as a digital representation of value which may be digitally traded, transferred or used for payment or investment purposes, but does not include the digital representation of fiat currencies, securities or other financial assets that are covered under any other written law.
