Yes, if you are conducting regulated virtual asset services “in or from within” the Cayman Islands. This applies both to companies incorporated in Cayman and to those using Cayman entities for their global crypto operations.

Registration applies to lower-risk activities such as token issuance, transfer services, and non-custodial intermediaries. Licensing applies where you control client assets — specifically custody providers and trading platforms/exchanges.

No, typically registration (plus approval) is sufficient for token issuance, unless the structure also involves custody or exchange activities. The classification analysis is fact-specific and depends on how the token issuance is structured.

A full VASP Licence is mandatory when your business holds client assets or operates a trading platform. The key trigger is control of client assets — once your business exercises this control, full licensing is required regardless of how the activity is labelled.

There is no fixed minimum capital requirement. However, CIMA requires that firms demonstrate adequate financial resources based on risk and scale — similar to the BVI’s risk-based approach. Financial projections and capital adequacy planning form part of the application dossier.