Trinidad and Tobago passes crypto regulations bill in preparation for FATF assessment.
TL;DR
Trinidad and Tobago passed a crypto regulation bill to meet FATF standards for a 2026 assessment. The opposition criticized the rushed process and restrictive amendments, but the government defended them as well-consulted.
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According to Foresight News , citing Crowdfund Insider, the parliament of Trinidad and Tobago, an island nation in the southern Caribbean, passed the Virtual Assets and Virtual Asset Service Providers Act by a vote of 25 to 11, establishing a regulatory framework for cryptocurrency activities. The act aims to meet the anti-money laundering and counter-terrorism financing standards of the Caribbean Financial Action Task Force (FATF) in preparation for the planned FATF on-site assessment in March 2026.
The bill's passage was marred by chaos, with the opposition accusing the government of violating parliamentary procedure by submitting a 48-page document containing over 200 amendments just minutes before the debate began. Critics worried the bill was too restrictive and could stifle innovation, but the government insisted the amendments were based on extensive consultation with the central bank, securities regulators, and industry participants.