The VASP Act is required to establish measures to protect clients’ assets and there are prohibitions on making or issuing misleading advertisements, to list a few of the VASPs’ obligations. The rigorous process is designed deliberately by the Commission to ensure that any relevant money laundering and terrorist financing risks identified are appropriately managed and mitigated. • The BVI is a jurisdiction of choice for VASPs and is a popular location for crypto hedge funds to domicile. • The BVI provides regulatory certainty and clarity for VASPs. • The BVI’s Commission publishes a lot of guidance on and to VASPs on its website. • The BVI’s VASP Act is necessary to regulate VASPs and virtual asset services, reflecting compliance with international FATF standards and IOSCO’s recommendations. • The BVI is keen on guarding its reputation as a well-regulated jurisdiction of choice for international business.