Jamaica Debates Bill to License and Regulate Crypto Firms
- —The bill requires VASPs to obtain a license from the Financial Services Commission
- —Operating without a license would be a criminal offense
- —Providers must comply with AML, KYC and the travel rule
- —The Jamaican dollar remains the only legal tender
Why it matters: Jamaica joins jurisdictions aligning crypto with global AML standards; the licensing regime will also cover overseas platforms serving local residents.
Source: Bitcoin.com