The Virtual Asset Bill has been passed

A Bill which will provide supervision of virtual asset businesses in St. Vincent and the Grenadines was passed in Parliament yesterday.

The Virtual Asset Business Bill, tabled by Minister of Finance Camillo Gonsalves requires an application process for the registration of Virtual Asset Businesses.

Minister Gonsalves says the relevant information is needed in order for due diligence to be conducted on the directors and shareholders of each Virtual Asset Service Provider.

 

Meanwhile, Parliamentary Representative for East Kingstown Fitzgerald Bramble says the passage of the Virtual Asset Business Bill is timely.

 

The other Bill passed today was the Value Added Tax Amendment Bill.

The Members of Parliament also concluded debate a Motion on Concerning Opposition to the Development and Operation of a quarry at Richmond in North Leeward. The Opposition Motion was defeated.

Members of Parliament will meet on Thursday May 19th at 10:30am for a Special Sitting to coincide with the visit of the President of India, Ram Nath Kovind.