Trinidad and Tobago prepares for FATF assessment through cryptocurrency regulation legislation
According to Crowdfund Insider, the Parliament of Trinidad and Tobago passed the Virtual Assets and Virtual Asset Service Providers Bill with a vote of 25 to 11, establishing a regulatory framework for cryptocurrency activities in the Caribbean nation.The bill aims to meet the anti-money laundering and counter-terrorist financing standards set by the Financial Action Task Force (FATF) in response to the FATF's on-site assessment scheduled for March 2026. Chaos erupted before the bill's passage, with the opposition accusing the government of submitting a 48-page document containing over 200 amendments just minutes before the debate began, violating parliamentary procedure.Critics are concerned that the bill's strictness may hinder innovation, but the government insists that the amendments are based on extensive consultations with the central bank, securities regulators, and industry participants.
