#vasp act

➤ The Cayman Islands has established a comprehensive statutory framework for tokenized funds, including new definitions and amendments to existing acts. ➤ Tokenized funds regulated under the Mutual Funds Act or Private Funds Act are now explicitly confirmed not to require separate regulation under the VASP Act. ➤ The jurisdiction offers benefits such as familiarity, a robust legal framework for digital assets, and a proven track record, making it an attractive location for launching tokenized investment funds.

➤ The Central Bank of Kenya (CBK) is establishing a dedicated supervision team for Virtual Asset Service Providers (VASPs) to enforce its new crypto law. ➤ This move signifies a shift from a cautious stance to active regulation, with the CBK recruiting for roles in licensing, compliance, and regulatory analysis. ➤ The initiative aims to manage risks such as financial crime and cybersecurity, while also fostering innovation and potentially positioning Kenya as a leader in digital finance.