In remarks at FinTech on the Seas 2025, the British Virgin Islands Ministry of Finance, through Honourable Lorna Smith OBE, outlined the government’s push to diversify its financial services sector by scaling fintech and digital asset activity. The speech pointed to the Regulatory Sandbox launched in 2021 as a cornerstone for testing new business models within a controlled environment. The update highlighted an “evolving regulatory landscape” supported by the Financial Services Commission, including a recently advised first dual licensing application for a Virtual Asset Service Provider and an investment business under the Securities and Investment Business Act. The ministry also flagged work to strengthen regulatory and human-capital capacity, the use of technologies such as RegTech to support compliance and financial crime prevention, and a focus on enabling activity in areas such as blockchain infrastructure, digital identity and globally oriented financial technology solutions, supported by local education initiatives.

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