Trinidad and Tobago Securities and Exchange Commission confirms Virtual Assets Act in force and bans VASP business activity until 31 December 2026 unless in regulatory sandbox

The Trinidad and Tobago Securities and Exchange Commission published a notice that the Virtual Assets and Virtual Asset Service Providers Act, 2025 is now in effect, establishing a regulatory framework for virtual asset activities carried on as a business in or from within Trinidad and Tobago. The Act introduces a transitional prohibition on conducting virtual asset activities as a business or on behalf of another person until 31 December 2026, except where authorised by the TTSEC under the Act’s Regulatory Sandbox. The scope includes exchanging virtual assets for domestic or foreign currencies, exchanges between virtual assets, transfers of virtual assets, and financial services related to the issuance or sale of virtual assets. The TTSEC notes that holding, custody or retention of virtual assets on behalf of another person is not permitted as a virtual asset activity, and the temporary prohibition does not apply to individuals using virtual assets for personal purchases of goods and services where not carried on as a business. Virtual asset service providers operating prior to commencement must notify the TTSEC by 22 January 2026 and may apply for Sandbox entry by the same date; those not qualifying for or not granted Sandbox entry must cease virtual asset activities and notify cessation by 7 April 2026, with non-compliance potentially attracting administrative and criminal penalties. Sandbox participation is subject to strict conditions, supervision, and ongoing AML/CFT/CPF obligations, with statutory forms, application instructions, eligibility criteria and fee schedules available on the TTSEC website.