Gov’t Programming Passage of Virtual Assets Service Provider Bill in 2025/26
By: , March 13, 2025
Photo: Adrian Walker
Minister of Finance and the Public Service, Hon. Fayval Williams, delivers the opening presentation in the 2025/26 Budget Debate in the House of Representative on Tuesday (March 11).The Full Story
Minister of Finance and the Public Service, Hon. Fayval Williams, says the Virtual Assets Service Provider (VASP) Bill is being programmed for passage in Parliament during fiscal year 2025/26, signalling Jamaica’s commitment to financial integrity.
She made the disclosure during her opening 2025/26 Budget Debate presentation in the House of Representatives on Tuesday (March 11).
Mrs. Williams said the Bill is critical to Jamaica’s economic future and will ensure compliance with international regulations as it relates to consumer protection and global best practices.
She added that it will modernise the financial sector while positioning the country as a leader in financial technology innovation within the Caribbean.
“Jamaica must pass this Virtual Assets Service Provider Bill to ensure compliance with the Financial Action Task Force Recommendations 15 and 16.
Our financial system must meet global standards on anti-money laundering, counterterrorism financing, and the prevention of proliferation financing,” Minister Williams said.
She informed that the VASP legislation establishes a robust legal framework – including strict licensing, supervision and enforcement guidelines – within which businesses will be required to operate.