BVI ventures deeper into cryptocurrency

BVI Finance — the entity responsible for marketing the financial services industry — is continuing its quest to showcase the territory as a premier destination for cryptocurrency enterprises.

Cryptocurrencies are virtual assets which have become increasingly popular as people are increasingly drawn to currencies that aren’t controlled by governments and central banks.

Recently, BVI Finance hosted a cryptocurrency webinar which featured a panel of experts who gave insights into the challenges and opportunities for the BVI within the crypto space.

BVI Finance’s CEO Elise Donovan highlighted the BVI’s significant progress in the virtual assets arena by stating over 60 Virtual Asset Service Providers (VASP) applications are currently under review.

Ronan Kuczaj, CEO of DTL Solutions then shared trends and developments shaping the global crypto space. The versatility of blockchain technology was also highlighted as presenters showed how the cryptocurrency technology can be applied to various sectors, including finance and intellectual property.

Presenters also highlighted that the BVI is poised to attract businesses involved in virtual assets because of the jurisdiction’s economic stability, corporate flexibility, and its well-established legal infrastructure as key factors contributing to its appeal.

Panelists encouraged BVI practitioners to deepen their understanding of the cryptocurrency revolution, citing the significant opportunities it presents. “The crypto landscape offers immense potential for growth and innovation. Our local professionals must be well-versed in this area to leverage these opportunities,” said Michael Killourhy, partner at local firm Ogier.