This jurisdiction has evolving or restrictive regulations that require careful compliance. Additional licensing, reporting, or operational constraints may apply.
Jamaica Cryptocurrency Regulatory Overview
Jamaica is developing crypto regulations with central bank digital currency.
Jamaica Blockchain Compliance Requirements
Bank of Jamaica launched CBDC (JAM-DEX). Private crypto regulations developing.
Crypto Licensing Requirements in Jamaica
Entities providing digital asset services, including issuers, securities dealers, and market makers, must obtain a valid registration from the FSC under the existing Digital Asset Framework Advisory. The upcoming Virtual Assets Service Provider (VASP) Bill, programmed for passage in 2025/2026, will introduce a formal and strict licensing and supervision regime for Virtual Asset Service Providers.
Cryptocurrency Tax Treatment in Jamaica
Crypto gains are taxed as income under normal income rules, which are 25% up to JMD 6 million and 30% above that threshold.
Crypto Banking Access in Jamaica
Limited banking access.
Official Sources & Regulatory References
https://www.fscjamaica.org/wp-content/uploads/2022/04/Advisory-FSC-Application-Requirements-Digital-Assets-Dec-2019.pdf, https://boj.org.jm/uploads/news/public_awareness_statement_re_virtual_currencies_1.docx, https://jis.gov.jm/govt-programming-passage-of-virtual-assets-service-provider-bill-in-2025-26/, https://coincub.com/countries/jamaica/
AML/CFT requirements may be stringent or evolving. Enhanced due diligence may be required.
Enforcement actions may be unpredictable or strict. Monitor regulatory developments closely.
Disclaimer: This information is provided for general guidance only and should not be considered legal advice. Regulations change frequently. Always consult with qualified legal professionals in the relevant jurisdiction before making business decisions.