Landsverordening toezicht virtuele activa dienstverleners

Purpose

Capture the Curacao VASP Ordinance as an authoritative source for BCMS obligations relating to virtual asset service provider licensing, supervision, governance, operations, safeguarding, reporting, client protection and CBCS oversight.

Authority

• Publisher: Publicatieblad / Staten van Curacao; official PDF hosted by Centrale Bank van Curacao en Sint Maarten (CBCS)
• Document title: Landsverordening toezicht virtuele activa dienstverleners
• Citation: Publicatieblad A 2025 No. 18
• Ordinance date: 2025-03-13
• Issue date: 2025-03-21
• Effective date: 2025-07-01, except Article 15(1)(c)-(d) and Article 37(2)(b), based on Publicatieblad A 2025 No. 91
• Commencement instrument: Landsbesluit van de 24ste juni 2025, no. 25/1575, houdende inwerkingtreding van de Landsverordening toezicht virtuele activa dienstverleners
• Commencement citation: Publicatieblad A 2025 No. 91
• Commencement date: 2025-06-24
• Commencement issue date: 2025-06-30
• Commencement URL: https://www.centralbank.cw/storage/app/media/legislation_vasps/20250704_91_lb_inwtr_lvo_toezicht_virtuele_activa_dienstverleners.pdf
• Authority level: Curacao ordinance
• Language: Dutch
• Pages: 57
• Official URL: https://www.centralbank.cw/storage/app/media/legislation_vasps/20250704_18_lv_toezicht_virtuele_activa_dienstverleners_1.pdf

Summary

This ordinance establishes the legal framework for supervision of virtual asset service providers in or from Curacao. It introduces a licensing and supervision regime, defines the scope of virtual asset services, assigns supervisory tasks and powers to the Bank, requires a public register, sets governance and operational expectations, establishes financial and safeguarding obligations, regulates specific virtual asset services, and provides for supervision, enforcement, sanctions, transitional rules and related legislative amendments.

The ordinance states that the framework is intended to implement FATF Recommendation 15, provide legal clarity and support the safe development of virtual assets and new technologies in financial services.

The ordinance entered into force on 2025-07-01, with the exception of Article 15(1)(c)-(d) and Article 37(2)(b). Those excepted provisions should not be treated as effective BCMS obligations unless a later commencement instrument brings them into force.

Relevant Provisions

Provision themes identified for later requirement extraction:

• Definitions of virtual assets, virtual asset service providers, stablecoins, access means, issuers, clients, white papers and related terms.
• CBCS tasks and powers, including licensing decisions, exemptions, dispensations, permissions, register maintenance, supervision, rulemaking and enforcement.
• Licensing framework for virtual asset service providers operating in or from Curacao.
• Public register requirements and registration or deregistration of virtual asset service providers.
• Governance, fit and proper, reliability, board, supervisory board and qualified holding requirements.
• Financial safeguards, solvency, own funds, safeguarding of fiat currency, virtual assets and access means.
• Controlled and integrity-based business operations, security risks, authentication, outsourcing, recordkeeping and data protection.
• Requirements on complaints handling, public information, client protection and non-misleading information or advertising.
• Specific obligations for services such as exchange, custody or management of virtual assets or access means, advice, order execution, order transmission, placement and issuance of virtual assets.
• Confidentiality, information exchange, supervisory costs, supervisory powers, enforcement, administrative sanctions and criminal provisions.
• Special CBCS reporting obligations, related amendments to other ordinances, transitional provisions and final citation.

Relationships

• Derived requirements: REQ-VASP-001 through REQ-VASP-015
• Related policies: POL-ABC-001 Anti-Bribery and Corruption Manual, POL-MCT-001 Market Conduct and Trading Compliance Manual, POL-EMP-001 Employee Handbook, POL-RMF-001 Risk Management Framework Manual, POL-ICA-001 Internal Controls and Audit Manual
• Related processes: PRC-FCI-001 Financial Crime and Integrity, PRC-CPO-001 Client Protection and Operations, PRC-RSA-001 Resilience Systems and Assurance, PRC-GRO-001 Governance Risk and Outsourcing, PRC-RSA-001 Resilience Systems and Assurance
• Related procedures: PROC-ABC-001 through PROC-ABC-007, PROC-MCT-001 through PROC-MCT-007, PROC-EMP-001 through PROC-EMP-007, PROC-RMF-001 through PROC-RMF-009 and PROC-ICA-001 through PROC-ICA-007
• Related controls: CTRL-ABC-001 through CTRL-ABC-007, CTRL-MCT-001 through CTRL-MCT-007, CTRL-EMP-001 through CTRL-EMP-007, CTRL-RMF-001 through CTRL-RMF-009 and CTRL-ICA-001 through CTRL-ICA-007
• Related systems: SYS-KYT-001 Crystal Intelligence Blockchain Analytics, SYS-FIN-001 Odoo Accounting ERP, SYS-IT-001 Odoo Automated Compliance Monitoring
• Related issues: pending
• Related publications: pending

Assurance

• Official CBCS URL verified: yes
• PDF metadata reviewed: yes
• PDF chapter and article structure extracted: yes
• Commencement instrument reviewed: yes
• Theme-level requirement extraction completed: yes
• Article-level exhaustive extraction completed: no
• Applicability confirmed: review pending
• Local PDF stored in BCMS: no

History

• 2026-07-25: Created source object from the official CBCS-hosted PDF and local PDF supplied by the business owner.
• 2026-07-25: Updated effective date from the commencement landsbesluit published as Publicatieblad A 2025 No. 91.
• 2026-07-25: Merged commencement instrument details into this source record and removed the separate commencement source object.
• 2026-07-25: Extracted VASP requirement themes into REQ-VASP-001 through REQ-VASP-015.