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From Registration to Licensing: Why the FSC Chose a Tougher Model

  Why Jamaica’s proposed VASP regime puts operators through a full licensing gate — not a light-touch register — and what that higher bar buys the market.   In short: the FSC is proposing to licence virtual asset service providers (VASPs), not merely register them. A register records who is in the market; a licence...

What Is a Virtual Asset Service Provider Under Jamaican Law?

A plain-English definition of a VASP under Jamaica’s proposed regime — the activities that bring you in scope, who is excluded, the decentralised-finance question, and how it all tracks the FATF standard. In short: a virtual asset service provider (VASP) is a business that, for or on behalf of others, provides virtual-asset services — operating...

Proof of Reserves Explained: The New Quarterly Audit for Jamaican Exchanges and Custodians

  Jamaica’s VASP regime introduces a recurring, independently audited proof of reserves for trading platforms and custodians. Here is what it is, why it matters, what makes it credible, and how to be ready.   In short: under Jamaica’s proposed VASP regime, Class A (trading platforms) and Class C (custodians) must demonstrate — at least...

The Six VASP Licence Classes in Jamaica: Which One Does Your Business Need?

A practical decision guide to Classes A through F — what each one covers, the activity that triggers it, the obligations that come with it, the annual fee, and how to scope the right licence (or licences) before you spend.   In short: Jamaica’s proposed VASP regime creates six licence classes — A (trading platforms),...

Jamaica’s Proposed VASP Licensing Regime: The Complete Guide

Everything businesses, boards and investors need to understand about how Jamaica will license and supervise virtual asset service providers — the six license classes, capital and substance, AML/CFT, proof of reserves, fees, and the road to enactment.   In short: the Financial Services Commission (FSC) has proposed a full licensing regime for virtual asset service...

Auditing in a Digitised Caribbean Economy: Why Modern Audits Must Test Populations, Not Just Samples

For decades, the external audit has been a sampling exercise. The auditor would select a small subset of transactions — perhaps thirty journal entries, perhaps sixty invoices, perhaps a hundred customer accounts — and from that sample draw conclusions about the entire population. The methodology was sound when the audit was its only practical option....

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