The Cayman Islands has introduced new regulations requiring companies that provide crypto custody and trading services to obtain a license starting April 1, 2025. Existing firms must submit applications by June 29, 2025, detailing the cryptocurrency they will hold and how they will secure these assets. Trading platforms must also disclose their operational details. This regulatory move aims to strengthen the oversight of virtual asset service providers in the territory, which has seen an influx of crypto businesses since initial regulations came into effect in 2021.
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