Is Crypto Legal in Suriname?
Overview
Suriname operates without a dedicated VASP or crypto-asset legal framework; no specific legislation defines, licenses, or registers virtual asset service providers, and the Centrale Bank van Suriname (CBvS) has issued only public risk warnings rather than authorizations, though crypto activities that functionally resemble deposit-taking or financial intermediation could attract scrutiny under the Banking and Credit Supervision Act 1993. The CBvS and the Financial Intelligence Unit (FIU) are the primary supervisory bodies, but no licensing pathway, AML/KYC mandate, Travel Rule obligation, asset-segregation requirement, or insurance rule applies specifically to VASPs. Suriname was rated Non-Compliant on FATF Recommendation 15 in its 2020 Mutual Evaluation and remained so through the 2021 follow-up report, signaling material AML/CFT deficiencies and no confirmed remediation timeline.
Regulatory Bodies
Suriname has laws in place to combat money laundering and terrorist financing, such as the Wet Melding Ongebruikelijke Transacties (WMOT) (Reporting Unusual Transactions Act) and related regulations.
Operating Models
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AI · UnreviewedPrimary Legislation
| Law / Regulation | Year | Scope |
|---|---|---|
| Banking and Credit Supervision Act 1993 | 1993 | Wet Toezicht Bank- en Kredietwezen 1993 (Banking and Credit Supervision Act 1993): This is the foundational act for financial institutions, though it doesn't explicitly mention cryptocurrencies. |
| Anti-Money Laundering and Combatting Financing of Terrorism Act | Wet ter voorkoming en bestrijding van witwassen en financiering van terrorisme (WWFT) (Anti-Money Laundering and Combatting Financing of Terrorism Act): This act is highly relevant for all entities dealing with virtual assets, requiring… | |
| The Customs Act commodity code (WTI) 1996 SB 1995 no. 111, as amended by SB 2004 | 1996 | The Customs Act commodity code (WTI) 1996 SB 1995 no. 111, as amended by SB 2004 no. 79, governs customs and import duties but does not classify or regulate cryptocurrencies as goods or financial instruments Suriname - Customs Regulations. |
| AML/CFT Act | 2002 | The Anti-Money Laundering and Countering the Financing of Terrorism Act 2002 (AML/CFT Act) imposes customer due diligence (CDD) obligations on banks, trust companies, money transfer operators, and other financial institutions, but its… |
Licensing Requirements
Centrale Bank van Suriname (CBS): The central bank is the primary financial regulator in Suriname and has issued official statements regarding cryptocurrencies.
Neither a specific licensing nor a specific registration regime for VASPs exists.
The CBS has maintained a cautious stance, primarily focusing on warning the public about the risks associated with virtual assets (volatility, scams, lack of consumer protection, money laundering risks).
There are no specific licenses or permits issued by the CBS or any other Surinamese authority explicitly for operating a crypto exchange, providing crypto custody, or processing crypto payments as distinct from traditional financial services.
No specific crypto-related licenses are required because the legal framework for virtual assets is currently absent.
However, this does not imply a "free pass." If an entity's operations begin to resemble traditional financial services (e.g., taking deposits, issuing financial instruments, providing lending services that involve fiat currency or carry financial risk) it could potentially fall under existing financial services laws and require traditional banking, money transfer, or investment licenses from the CBS. This would be determined on a case-by-case basis by the CBS.
Mandatory. Even without a specific crypto law, Suriname, as a member of the Caribbean Financial Action Task Force (CFATF) and generally following FATF Recommendations, has robust AML/CFT legislation.
Any entity dealing with significant financial transactions, including those involving virtual assets that can be converted to fiat or used for value transfer, would be expected to comply with Suriname's AML/CFT laws.
Relevant Legislation: Suriname's primary AML/CFT legislation includes the "Wet identificatie bij dienstverlening ter voorkoming van witwassen en financiering van terrorisme" (Act on Identification when Providing Services to Prevent Money Laundering and Terrorism Financing) and related decrees. This law requires designated institutions (banks, money transmitters, casinos, trust companies, etc.) to:
Conduct customer due diligence (CDD/KYC).
Monitor transactions for suspicious activity.
Report suspicious transactions to the Financial Intelligence Unit (FIU) of Suriname.
While VASPs are not explicitly listed in older versions of this law, the international trend is for them to be treated as financial institutions or designated non-financial businesses and professions (DNFBPs) for AML purposes. Any VASP operating in Suriname would be under pressure to implement strong AML/CFT controls.
Not applicable for a non-existent crypto license.
If an operation were deemed to fall under traditional financial licensing, then specific capital requirements would apply based on the type of traditional license (e.g., banking license, money transmitter license).
Not a specific requirement for a crypto license, as none exists.
However, for AML/CFT compliance and general business operations targeting Surinamese residents, having a registered local entity and a physical presence (or at least a registered agent) would be prudent and often necessary for opening bank accounts and complying with local tax laws.
There is no specific application process for a crypto license as no such license exists.
Significance: This is the main financial regulator. While specific crypto laws aren't here, any official statements or future regulations would originate from or be published by the CBS.
Significance: These statements indicate the official stance of the regulator, emphasizing risks and the current lack of regulation or legal tender status.
Significance: The FIU is responsible for receiving and analyzing suspicious transaction reports (STRs) related to money laundering and terrorism financing. Any VASP operating in Suriname, even without a specific license, would likely fall under the purview of FIU reporting obligations if their activities constitute financial services or designated non-financial business activities that carry AML risk.
Suriname's primary AML/CFT law is the "Wet identificatie bij dienstverlening ter voorkoming van witwassen en financiering van terrorisme" (Act on Identification when Providing Services to Prevent Money Laundering and Terrorism Financing).
Note on URL: Direct, stable, publicly accessible English translations or original Dutch versions of national laws from smaller jurisdictions are often difficult to link directly. They are typically published in the Official Gazette (Staatsblad van de Republiek Suriname) and may not have a continuously available direct URL on government websites. However, its existence and implications for financial institutions are well-established.
Wet Toezicht Bank- en Kredietwezen 1993 (Banking and Credit Supervision Act 1993): This is the foundational act for financial institutions, though it doesn't explicitly mention cryptocurrencies. However, if an entity issuing or dealing with tokens is deemed to be performing banking or credit-related activities, this act would apply.
Wet ter voorkoming en bestrijding van witwassen en financiering van terrorisme (WWFT) (Anti-Money Laundering and Combatting Financing of Terrorism Act): This act is highly relevant for all entities dealing with virtual assets, requiring them to implement AML/CFT measures, regardless of whether the token is classified as a security.
Investment Tokens (Security Tokens/STOs): Tokens that explicitly represent a share in a company, debt, participation in profits, voting rights, or other traditional financial instruments. These are designed from inception to be securities.
Initial Coin Offerings (ICOs) where tokens are sold with an expectation of profit: If the token is marketed as an investment opportunity, and its value is expected to grow based on the efforts of the issuing team, it would likely be deemed a security. This includes many early-stage project tokens.
Tokens promising dividends, revenue share, or interest payments: Any token that offers a passive income stream to holders, similar to a bond or stock dividend, would almost certainly be considered a security.
Tokens that grant rights similar to equity or debt: Even if not explicitly called a "share," if the token provides economic rights equivalent to traditional shares or debt instruments, it would fall under securities regulations.
Pure Utility Tokens: If the token's primary purpose is to grant access to a specific product or service within an ecosystem, and it is primarily acquired for its utility rather than investment, it is less likely to be a security. However, if the utility is not yet functional and the token is speculative, it could still be deemed a security.
Pure Payment Tokens (e.g., Bitcoin, stablecoins used solely for payments): Cryptocurrencies functioning solely as a medium of exchange or a store of value, without offering investment rights in a common enterprise. The CBvS has, however, stated that cryptocurrencies are not legal tender in Suriname.
Prospectus Requirements: Issuers might need to prepare and file a prospectus or offering document with the CBvS, providing full disclosure about the project, the token, risks, and financial information, similar to a traditional public offering of securities.
Licensing: The issuer or any intermediary involved in the offering (e.g., an underwriter or broker-dealer) might need to be licensed by the CBvS as a financial institution or investment firm.
AML/CFT Compliance: All token issuers and platforms dealing with virtual assets are expected to comply with the WWFT, including implementing Know Your Customer (KYC) procedures and reporting suspicious transactions.
Exchange Licensing: Any platform facilitating the trading of such security tokens would need to be licensed by the CBvS as a securities exchange or a trading facility.
Market Conduct Rules: Rules against market manipulation, insider trading, and other illicit market practices would apply.
Reporting Requirements: Trades might need to be reported to the CBvS.
Warnings about Risks: The CBvS has repeatedly warned the public about the high risks associated with investing in cryptocurrencies, citing their volatility, lack of underlying value, and susceptibility to cybercrime and fraud.
No Legal Tender Status: It has clarified that cryptocurrencies are not legal tender in Suriname and are not regulated by the CBvS. This implicitly discourages their use in the formal financial system.
Emphasis on AML/CFT: While not specifically about securities, the CBvS expects financial institutions and other relevant entities to comply with AML/CFT obligations when dealing with virtual assets, to combat illicit financing.
Warnings against Unlicensed Activities: While not directly crypto-specific, the CBvS has historically acted against entities conducting financial services without proper licenses. If a crypto offering were deemed to fall under existing securities or financial services laws, an unlicensed operation would be subject to enforcement action.
Centrale Bank van Suriname (CBvS) Official Website: https://www.cbvs.sr/
You would typically look under sections like "Nieuws & Publicaties" (News & Publications) or "Wet- en Regelgeving" (Laws & Regulations) for relevant statements or acts.
Specific legal acts like the "Wet Toezicht Bank- en Kredietwezen 1993" or "Wet ter voorkoming en bestrijding van witwassen en financiering van terrorisme" would be administered by or referenced by the CBvS, though direct public access to full, updated texts might require legal databases or government gazettes within Suriname.
AML/KYC Requirements
None specifically for crypto custody. There is no specific licensing regime in Suriname for companies providing cryptocurrency or digital asset custody services.
Suriname's existing financial services licensing laws (e.g., for banks, money transfer businesses) do not explicitly cover or define virtual asset custody as a regulated activity.
Regulatory Reference (Indirect): The FATF Mutual Evaluation Report for Suriname (published in 2020 and subsequent follow-up reports) indicates that Recommendation 15 (which addresses Virtual Assets and Virtual Asset Service Providers) has significant deficiencies. Suriname has been rated as "Non-Compliant" or "Partially Compliant" with this recommendation, specifically noting that there is no legal or regulatory framework for the licensing, registration, or supervision of VASPs for AML/CFT purposes.
FATF Mutual Evaluation Report of Suriname (2020): https://www.fatf-gafi.org/content/fatf-gafi/en/countries-regions/s-t/suriname/documents/mer-suriname-2020.html (Look specifically at ratings for R.15 and findings related to VASPs).
No specific rules. Given the absence of a dedicated regulatory framework for crypto custodians, there are no explicit mandates or guidelines requiring the segregation of client digital assets from the custodian's own assets.
None. There are no specific insurance or bonding requirements for entities providing crypto custody services in Suriname.
None. No specific regulations or mandates exist regarding the use of cold storage (offline storage) for digital assets held in custody.
No specific definition. Suriname's existing laws do not define what constitutes a "qualified custodian" in the context of digital assets.
As of the latest available public information, there is no specific pending legislation in Suriname focused on regulating cryptocurrency or digital asset custody.
However, as a member of the Caribbean Financial Action Group (CFATF) and under the oversight of the FATF, Suriname is under pressure to improve its AML/CFT framework, which could eventually lead to the regulation of VASPs. Any future legislation would likely first address basic AML/CFT registration/licensing before moving to specific operational requirements like custody rules.
Centrale Bank van Suriname (CBvS) Official Website: While not specific to custody legislation, this is the primary source for any official announcements or regulations regarding financial services in Suriname. You would need to monitor their news and publications sections.
Obligation: As a UN member state, Suriname is legally bound to implement sanctions resolutions passed by the UN Security Council. These resolutions target individuals, entities, and countries involved in terrorism, proliferation of weapons of mass destruction, and other threats to international peace and security.
Implementation in Suriname: The Government of Suriname, through its financial regulators (primarily the Centrale Bank van Suriname - CBvS) and its Financial Intelligence Unit (FIU-S), is responsible for circulating UN sanctions lists (e.g., the UN Security Council Consolidated List) and ensuring financial institutions (which would include VASPs if regulated) comply.
VASP Requirements: VASPs operating in or from Suriname, or dealing with Surinamese customers, must screen all their customers (KYC/CDD) and transactions against the UN sanctions lists. If a match is found, assets must be frozen, and a report made to the FIU-S.
UN Security Council Resolutions: Accessible via the UN Digital Library: https://digitallibrary.un.org/
UN Security Council Consolidated List: https://www.un.org/securitycouncil/sanctions/un-sc-consolidated-list
Extraterritorial Reach: The U.S. Office of Foreign Assets Control (OFAC) sanctions primarily apply to "U.S. persons" (U.S. citizens, permanent residents, entities organized under U.S. law, and persons within the U.S.). However, OFAC sanctions can have significant extraterritorial effects, especially through secondary sanctions and when transactions involve the U.S. financial system or U.S.-origin technology.
If a VASP operating in Suriname (or its parent company) is a U.S. person, it must comply fully with OFAC regulations.
If a VASP in Suriname transacts with U.S. persons or uses U.S.-based virtual asset exchanges, custodians, or other service providers, those U.S. entities will require OFAC compliance, indirectly impacting the Surinamese VASP.
Engaging in transactions with OFAC-sanctioned individuals, entities, or jurisdictions (e.g., Iran, North Korea, Cuba, Syria, specific regions of Ukraine) via cryptocurrency can expose non-U.S. VASPs to significant risk of U.S. enforcement action, including being added to the SDN list.
VASP Requirements: VASPs must screen customers and transactions against OFAC's Specially Designated Nationals and Blocked Persons (SDN) List and other sanctions lists. They should also be aware of OFAC's guidance specifically addressing virtual currency.
OFAC Virtual Currency Guidance: Search for "OFAC Guidance on Virtual Currency" on the Treasury website (e.g., the "Sanctions Compliance Guidance for the Virtual Currency Industry"): https://home.treasury.gov/policy-issues/financial-sanctions/faqs/topic/2311
Applicability: EU sanctions apply to all EU persons, entities, and anyone operating within the EU's jurisdiction. While Suriname is not an EU member, VASPs in Suriname that have a nexus with the EU (e.g., European ownership, serving EU customers, using EU-based service providers, or transacting with EU-sanctioned individuals/entities) could fall under the scope of EU sanctions.
VASP Requirements: Similar to OFAC, VASPs with an EU nexus must screen against EU sanctions lists, freeze assets, and report to relevant authorities if matches are found.
The CBvS is the central bank and primary financial regulator in Suriname. While it has issued warnings about the risks of cryptocurrencies, comprehensive specific regulations for VASPs are still under development or not yet fully enacted. However, any financial activity, including those involving virtual assets, is expected to adhere to general AML/CFT principles.
The FIU-S is the national center for receiving, analyzing, and disseminating suspicious transaction reports (STRs) and other information related to money laundering and terrorist financing.
Role in Sanctions: The FIU-S would be the primary recipient of reports regarding suspected sanctions violations involving virtual assets, once a clear reporting mechanism for VASPs is established. It also disseminates UN sanctions lists domestically.
Suriname has laws in place to combat money laundering and terrorist financing, such as the Wet Melding Ongebruikelijke Transacties (WMOT) (Reporting Unusual Transactions Act) and related regulations. These laws implement FATF Recommendations and UN Security Council Resolutions.
Application to Crypto: Even without specific crypto regulations, financial institutions (and potentially VASPs under a broader interpretation or future specific designation) are expected to report suspicious transactions to the FIU-S. This would include transactions suspected of being linked to sanctioned entities or jurisdictions.
FATF Recommendations: Suriname, as a jurisdiction subject to FATF assessments, is expected to implement FATF Recommendation 15 (New Technologies), which requires countries to regulate and supervise VASPs for AML/CFT purposes, including sanctions compliance.
FATF Guidance for a Risk-Based Approach to Virtual Assets and VASPs: https://www.fatf-gafi.org/publications/fatfrecommendations/guidance-rba-virtual-assets-2023.html
Customer Due Diligence (CDD) / Know Your Customer (KYC): Identify and verify the identity of all customers, including beneficial owners.
Sanctions Screening: Screen all customers and counterparties (where identifiable), as well as ongoing transactions, against:
UN Sanctions Lists: The Consolidated List (terrorists, proliferation, specific regimes).
OFAC SDN List and other relevant OFAC lists: For any U.S. nexus or to mitigate secondary sanctions risk.
EU Sanctions Lists: For any EU nexus.
Adverse Media Screening: Check for any news or reports linking customers to criminal activity or sanctions evasion.
Blockchain Analytics: Utilize tools to identify links to known illicit addresses, sanctioned wallets, or high-risk jurisdictions.
Ongoing Monitoring: Continuously monitor customer activity and re-screen against updated sanctions lists.
Crimea, Donetsk, Luhansk, Kherson, Zaporizhzhia regions of Ukraine (under Russian control)
Russia (extensive sanctions by US, EU, UK, etc., though UN sanctions are less broad)
Other jurisdictions under specific UN, OFAC, or EU sanctions programs (e.g., certain individuals/entities in Belarus, Venezuela, Myanmar, etc.).
Financial Penalties: Substantial fines for individuals and legal entities.
Imprisonment: Criminal charges leading to significant prison sentences for individuals involved.
Asset Forfeiture: Seizure and forfeiture of assets involved in or derived from illicit activities, including virtual assets.
Reputational Damage: Significant harm to the reputation of the VASP and individuals involved.
Loss of License/Operating Ability: If a regulatory framework for VASPs is established, non-compliance would likely lead to license revocation.
International Penalties: If OFAC or EU sanctions are violated, U.S. or EU authorities can impose their own substantial fines, designate the VASP or individuals on their sanctions lists, and block access to their financial systems.
Travel Rule
No verified facts yet. 11 unverified fact(s) in explorer
Tax Reporting
No verified facts yet. 30 unverified fact(s) in explorer
Custody Requirements
Custody regulation data collection in progress.
Stablecoin Regulation
Reference: Statements and press releases from the CBvS, which often emphasize the risks of investing in unregulated digital assets. For example, advisories can be found on their official website (though specific stablecoin advisories might not be distinct from general crypto warnings).
Centrale Bank van Suriname (CBvS) Official Website: https://www.cbvs.sr/ (Navigating to "Nieuws" or "Publicaties" might show relevant advisories, typically in Dutch).
No Explicit Classification: Suriname does not have specific legislation classifying stablecoins.
E-money/Payment Tokens: If a stablecoin functions purely as a medium of exchange, maintains a stable value, and is redeemable at par, it might conceptually fall under the purview of e-money regulations if the existing laws were broadly interpreted. However, Suriname's current e-money framework (if any exists) is unlikely to explicitly cover distributed ledger technology (DLT) based assets.
Securities: If a stablecoin offers any form of dividend, interest, or represents an ownership interest in a pool of assets in a way that resembles an investment contract, it could potentially be viewed as a security under the Wet op het Toezicht op de Effectenhandel 1999 (Securities Trading Supervision Act 1999). However, this would require a specific determination by the regulator.
Unregulated Digital Asset: In practice, most stablecoins (and cryptocurrencies) in Suriname would likely be considered unregulated digital assets outside the traditional financial system.
No Specific Requirements: Given the lack of specific stablecoin legislation, there are no explicit reserve requirements for stablecoin issuers in Suriname.
Implied Requirements (Hypothetical): If a stablecoin were ever to be classified as e-money, general e-money regulations would likely require full backing of customer funds in segregated accounts. However, this is speculative for stablecoins.
No Specific Licensing: There is no specific licensing regime for stablecoin issuers in Suriname.
General Financial Licensing (Hypothetical): If a stablecoin issuer were deemed to be performing activities that fall under existing financial services (e.g., banking, payment services, securities brokerage), they would theoretically need to obtain the relevant licenses under laws like the Wet Toezicht Bank- en Kredietwezen 2011 (Banking and Credit Supervision Act 2011) or payment services regulations. However, stablecoin issuance itself is not a defined licensed activity.
AML/CFT Consideration: Suriname is a member of the Caribbean Financial Action Task Force (CFATF) and is subject to FATF recommendations. FATF Recommendation 15 requires countries to regulate Virtual Asset Service Providers (VASPs) for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) purposes. While specific VASP licensing/registration might be in development or loosely applied, it primarily focuses on AML/CFT compliance rather than prudential stablecoin regulation. Suriname has AML/CFT legislation, such as the Wet Melding Ongebruikelijke Transacties (WMOT) / Act Reporting Unusual Transactions (ARUT), which could eventually be extended to cover VASPs, including stablecoin issuers/exchanges if they are identified as such.
No Regulatory Guarantees: Without specific stablecoin regulation, there are no legally enforced redemption rights for stablecoin holders in Suriname beyond what might be contractually offered by the issuer (which would be subject to general contract law, not financial regulation specific to stablecoins).
Risk: This means users bear the full counterparty risk of the issuer.
None Exist: Given the absence of even basic stablecoin regulation, there are no specific rules or regulations for algorithmic stablecoins in Suriname. These are complex even for advanced jurisdictions.
Exploration Stage: The Centrale Bank van Suriname (CBvS) has, like many central banks globally, expressed interest in exploring the concept of a Central Bank Digital Currency (CBDC). This is typically viewed as a separate initiative to enhance the national payment system and monetary policy, distinct from regulating privately issued stablecoins.
Potential Future Impact: If Suriname were to launch a CBDC, it would likely compete with or potentially influence the regulatory approach towards private stablecoins. A CBDC could potentially offer a more stable and regulated digital payment alternative. However, this is a long-term prospect.
Relevant for official statements, advisories, and publications regarding financial stability and emerging technologies.
Wet Toezicht Bank- en Kredietwezen 2011 (Banking and Credit Supervision Act 2011):
This is the primary law governing banks and credit institutions. If stablecoin issuance were ever deemed a banking activity, this would apply.
Direct URL for text is difficult to provide as Surinamese legal texts are often in government gazettes and not always digitally indexed publicly in a single repository easily accessible with direct links.
Wet op het Toezicht op de Effectenhandel 1999 (Securities Trading Supervision Act 1999):
This law governs the issuance and trading of securities. Applicable if stablecoins were classified as securities.
Similar to the banking act, direct URL is challenging.
This is Suriname's key AML/CFT legislation. As the global standard evolves to include VASPs, this law or related regulations would be the vehicle for AML/CFT compliance for stablecoin issuers/exchanges.
Information often found via the Financial Intelligence Unit (FIU) Suriname or CBvS.
Suriname is a member of CFATF. Their reports and recommendations (which align with FATF) heavily influence Suriname's approach to virtual assets, particularly concerning AML/CFT.
Securities Classification
Cryptocurrency and digital asset activities in Suriname are not subject to a comprehensive, dedicated regulatory framework as of 2025–2026; no specific crypto-asset licensing regime exists, and no authority has been formally designated as the crypto regulator under a standalone digital asset law. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
The Central Bank of Suriname (Centrale Bank van Suriname, CBvS) exercises regulatory authority over financial institutions and payment systems, which may extend to certain digital asset activities if characterized as financial services, but no dedicated crypto-asset license has been created or granted to any entity. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
The Government of Suriname (GOS) has taken steps toward improving the broader financial and anti-money laundering (AML) framework, including legislative reforms pursued in cooperation with international partners such as the IMF, but these efforts do not yet specifically address virtual asset service providers (VASPs) or digital asset securities. 1 Executive Summary The Government of Suriname (GOS) ...
No entity has been licensed to conduct cryptocurrency exchange, custody, or digital asset securities business in Suriname; the practical reality is that such activities operate in a legal gray zone, and market participants face uncertainty regarding their regulatory status. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
Suriname is not a member of the Financial Action Task Force (FATF) but is subject to FATF-style evaluations through its membership in the Caribbean Financial Action Task Force (CFATF), and the IMF has urged Suriname to strengthen its AML/CFT framework, including for emerging financial technologies. 1 Executive Summary The Government of Suriname (GOS) ...
The Government of Suriname (GOS) has been engaged in a multi-year Extended Fund Facility (EFF) arrangement with the International Monetary Fund (IMF), under which Suriname has committed to financial sector reforms, including improvements to the AML/CFT regime, but these reforms do not yet include a dedicated framework for virtual assets. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
The Securities Act of Suriname (Wet Toezicht Effectenverkeer) governs the issuance and trading of securities in Suriname, and its definitions of "securities" are based on traditional financial instruments such as shares and bonds; there is no public evidence that digital assets or cryptocurrencies have been formally classified as "securities" under this act by the CBvS or any court. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
The Anti-Money Laundering and Countering the Financing of Terrorism Act (Wet Bestrijding Witwassen en Terrorismefinanciering) imposes obligations on "reporting institutions," which include banks, money transfer offices, and other financial service providers; the scope of this act does not explicitly extend to crypto-asset exchanges or wallet providers unless they are otherwise regulated as financial institutions. 1 Executive Summary The Government of Suriname (GOS) ...
Suriname is a member of the Caribbean Financial Action Task Force (CFATF), the FATF-style regional body for the Caribbean, and is subject to mutual evaluations by that body; the IMF has noted that Suriname's AML/CFT framework requires strengthening, particularly in relation to supervision and enforcement. 1 Executive Summary The Government of Suriname (GOS) ...
The Government of Suriname has signed a Memorandum of Understanding or similar cooperation arrangements with international partners, including the United States, to combat money laundering and financial crimes, and these arrangements may extend to the investigation of crypto-related financial crimes. 1 Executive Summary The Government of Suriname (GOS) ...
There is no dedicated "Virtual Asset Service Provider Act" or equivalent legislation in Suriname, and no draft bill on digital assets has been publicly presented as of 2025–2026. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
The Suriname Financial Intelligence Unit (FIU) operates under the Ministry of Finance and receives suspicious transaction reports from reporting institutions; it has jurisdiction over AML/CFT reporting but does not have a separate licensing function for crypto businesses. 1 Executive Summary The Government of Suriname (GOS) ...
The IMF's 2025 country report for Suriname (IMF Staff Country Report Volume 2025 Issue 097) notes that the financial sector in Suriname remains underdeveloped and that reforms are ongoing; the report does not identify any crypto-specific regulation as a completed or pending reform. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
There is no dedicated cryptocurrency or digital asset licensing regime in Suriname; no authority has been empowered by statute to issue licenses for virtual asset service providers (VASPs), digital asset exchanges, or crypto custodians. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
Entities seeking to conduct crypto-related activities may, in practice, need to obtain a banking or credit institution license from the Central Bank of Suriname (CBvS) under the Banking and Credit System Supervision Act if their activities are deemed to constitute banking business, but such classification is uncertain and no precedents exist. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
The Securities Act of Suriname requires a license for persons operating as brokers or dealers in securities, but this requirement has not been applied to digital assets; the CBvS has issued no public clarification or guidance on whether crypto tokens qualify as "securities" under the act. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
The minimum capital requirements for a banking license in Suriname are set under the Banking and Credit System Supervision Act, but these thresholds are not calibrated for crypto-asset businesses, and no capital requirement exists specifically for VASPs. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
The application process for a banking or securities license in Suriname typically involves submission of a business plan, proof of capital, and background checks on directors, but none of these processes are tailored to digital asset businesses, and there is no dedicated application window or procedure for crypto firms. 1 Executive Summary The Government of Suriname (GOS) ...
No timeline for processing a crypto-related license application can be provided because no such license exists; the CBvS has not published criteria or timelines for approving VASP applications. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
Structural requirements that would apply to a licensed crypto business in Suriname are undefined; there is no requirement for local incorporation, local directorship, or physical presence that is specifically applied to digital asset service providers. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
As of 2025–2026, zero entities have been licensed in Suriname to conduct cryptocurrency exchange, digital asset custody, or digital asset securities activities. The CBvS has not granted any such license, and no public registry exists because no licensing framework operates. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
The Anti-Money Laundering and Countering the Financing of Terrorism Act (Wet Bestrijding Witwassen en Terrorismefinanciering) currently in force in Suriname imposes customer due diligence (CDD), record-keeping, and suspicious transaction reporting obligations on "reporting institutions." 1 Executive Summary The Government of Suriname (GOS) ...
Reporting institutions under the AML/CFT Act include banks, credit unions, money transfer services, and other financial institutions supervised by the Central Bank of Suriname; crypto exchanges and wallet provides are not explicitly listed as reporting institutions unless they qualify as financial enterprises under the law. 1 Executive Summary The Government of Suriname (GOS) ...
The Suriname Financial Intelligence Unit (FIU) receives suspicious transaction reports (STRs) from reporting institutions, but it has not issued guidance on STR filing for crypto-related transactions, and reporting institutions have no clear obligation to report crypto-specific suspicious activity. 1 Executive Summary The Government of Suriname (GOS) ...
Record retention requirements under the AML/CFT Act require reporting institutions to keep transaction and identification records for a specified period, but this period is not publicly documented, and no specific retention rules exist for virtual asset transactions. 1 Executive Summary The Government of Suriname (GOS) ...
Beneficial ownership reporting requirements apply to legal entities under Suriname's corporate and AML laws, but these requirements are not extended to cover the beneficial owners of crypto wallets or token issuers. 1 Executive Summary The Government of Suriname (GOS) ...
The Government of Suriname has cooperated with the United States and other international partners to strengthen its AML/CFT regime, including through information-sharing and technical assistance programs, but these programs have not specifically targeted crypto-asset compliance. 1 Executive Summary The Government of Suriname (GOS) ...
The IMF has encouraged Suriname to ensure that its AML/CFT framework remains compliant with international standards, including the FATF recommendations, but as of 2025–2026, Suriname has not enacted FATF Recommendation 15-specific measures on virtual assets and VASPs. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
The Central Bank of Suriname (CBvS) has taken enforcement actions against financial institutions for AML/CFT deficiencies, including the revocation of licenses of non-compliant banks in recent years, but no public enforcement action specifically involving a cryptocurrency business or digital asset securities issuer has been documented. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
No arrests, fines, or penalties have been reported in Suriname related to unlicensed crypto exchange activity, initial coin offerings (ICOs), or digital asset securities transactions, as no legal basis for such enforcement has been identified. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
The IMF's 2025 report for Suriname notes that the government has “taken measures” to improve the financial stability framework, including through the resolution of a failing bank, and this action was taken under the central bank’s supervisory powers, not under any crypto-specific law. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
The Government of Suriname has been subject to international pressure to address financial crime, including through CFATF mutual evaluations; however, no reports of crypto-related enforcement actions arising from these evaluations have been published. 1 Executive Summary The Government of Suriname (GOS) ...
No tax guidance has been issued for virtual assets in Suriname.
The income tax laws of Suriname (de Inkomstenbelasting) do not contain specific provisions addressing cryptocurrency gains, mining income, or digital asset transactions, and the tax administration has not issued public rulings on the tax treatment of crypto assets. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
Suriname has no value-added tax (VAT) system in place; the country relies on a turnover tax (omzetbelasting) on goods and services, but this tax has not been applied or interpreted to cover crypto-asset transactions. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
The tax administration of Suriname has not published taxpayer guidance on how to report crypto-asset holdings or gains, and no forms or filing instructions specifically address digital assets. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
The most significant gap is the complete absence of a dedicated legal framework for virtual assets in Suriname; there is no law that defines “virtual asset,” “VASP,” “crypto-asset,” or “digital security,” leaving market participants without legal certainty regarding their standing. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
Businesses operating in Suriname's crypto space face the risk that their activities may be retroactively classified as unlicensed banking or securities dealing, which could result in penalties under the Banking and Credit System Supervision Act or the Securities Act; however, no precedent has been established to predict how the CBvS or courts would treat such a case. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
The Financial Intelligence Unit of Suriname does not issue guidance on crypto-specific AML compliance, and reporting institutions do not have clear rules on how to handle crypto-related transactions, creating a gap in the AML/CFT framework. 1 Executive Summary The Government of Suriname (GOS) ...
International pressure from CFATF and the IMF may lead to the introduction of FATF-style requirements for VASPs in the near future, but until such legislation is enacted and implemented, crypto businesses operate in a regulatory vacuum. 1 Executive Summary The Government of Suriname (GOS) ...
The absence of a licensing regime means there is no supervisory oversight of crypto businesses for consumer protection, market integrity, or financial stability purposes, and there is no mechanism for investors to seek redress through a regulator. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
The practical reality is that while crypto activity is not prohibited in Suriname, it is also not authorized, and there is no government office or agency that can provide definitive answers to crypto entrepreneurs regarding their compliance obligations. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
The IMF's 2025 report highlights that Suriname's financial system is shallow and that the central bank's supervisory capacity is limited; this institutional weakness exacerbates the risks for crypto businesses, as even compliant firms may not receive adequate regulatory engagement. Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
1 Executive Summary The Government of Suriname (GOS) ...
united states securities and exchange commission
Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname in: IMF Staff Country Reports Volume 2025 Issue 097 (2025)
Sanctions & Restrictions
Sanctions data collection in progress.
Enforcement Actions
Developing Regulatory Framework: Suriname is still in the early stages of developing a comprehensive regulatory framework for virtual assets and cryptocurrencies. The Centrale Bank van Suriname (CBvS) and the Financial Intelligence Unit (FIU) are the primary financial regulators, but their focus has largely been on issuing warnings, conducting risk assessments, and working towards future legislation, rather than active enforcement against specific entities with public penalties.
Focus on Warnings and Risk Advisory: The Centrale Bank van Suriname (CBvS) has, on multiple occasions, issued warnings to the public about the risks associated with investing in or using cryptocurrencies, emphasizing their volatile nature, lack of legal tender status, and potential for fraud and money laundering. These are advisories, not enforcement actions against specific entities.
International Recommendations (FATF): Suriname, like many countries, is subject to recommendations from the Financial Action Task Force (FATF) regarding Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) for virtual assets. While these reports assess a country's progress, they do not detail specific domestic enforcement actions against individual entities.
Lack of Publicly Disclosed Cases: Significant enforcement actions, especially those involving penalties and specific outcomes, are typically publicized by financial authorities to deter future violations. The absence of such public disclosures from the CBvS, the FIU, or major news outlets indicates that such actions have not occurred or have not been made public within the specified timeframe.
Centrale Bank van Suriname (CBvS): The central bank, responsible for monetary policy, financial stability, and supervision of financial institutions. It has issued warnings regarding cryptocurrencies.
Financial Intelligence Unit (FIU) Suriname: Responsible for receiving, analyzing, and disseminating suspicious transaction reports related to money laundering and terrorist financing. They would be involved in investigating crypto-related illicit financial activities.
Centrale Bank van Suriname Official Statements: The CBvS periodically issues press releases and statements regarding financial sector developments, including warnings about unregulated financial products like cryptocurrencies. Searching their official website (www.cbvs.sr) would show general advisories, but not enforcement actions.
FATF Reports: The FATF evaluates countries' AML/CFT frameworks, including for virtual assets. Suriname's evaluations discuss its legal framework development but not individual enforcement actions.
Research & Articles
Regulatory Forecast
high confidenceLikely enforcement action expected around 2026-05-06
Based on 90 historical regulatory events for Suriname, averaging every 14 days, with increasing regulatory activity.
Recent Updates
None specifically for crypto custody. There is no specific licensing regime in Suriname for companies providing c...
None specifically for crypto custody. There is no specific licensing regime in Suriname for companies providing cryptocurrency or digital asset custody services.
Suriname's existing financial services licensing laws (e.g., for banks, money transfer businesses) do not explicitly ...
Suriname's existing financial services licensing laws (e.g., for banks, money transfer businesses) do not explicitly cover or define virtual asset custody as a regulated activity.
Regulatory Reference (Indirect): The FATF Mutual Evaluation Report for Suriname (published in 2020 and subsequent...
Regulatory Reference (Indirect): The FATF Mutual Evaluation Report for Suriname (published in 2020 and subsequent follow-up reports) indicates that Recommendation 15 (which addresses Virtual Assets and Virtual Asset Service Providers) has significant deficiencies. Suriname has been rated as "Non-Compliant" or "Partially Compliant" with this recommendation, specifically noting that there is no legal or regulatory framework for the licensing, registration, or supervision of VASPs for AML/CFT purposes.
No specific rules. Given the absence of a dedicated regulatory framework for crypto custodians, there are no expl...
No specific rules. Given the absence of a dedicated regulatory framework for crypto custodians, there are no explicit mandates or guidelines requiring the segregation of client digital assets from the custodian's own assets.
No specific definition. Suriname's existing laws do not define what constitutes a "qualified custodian" in the co...
No specific definition. Suriname's existing laws do not define what constitutes a "qualified custodian" in the context of digital assets.
Centrale Bank van Suriname (CBvS) Official Website: While not specific to custody legislation, this is the primar...
Centrale Bank van Suriname (CBvS) Official Website: While not specific to custody legislation, this is the primary source for any official announcements or regulations regarding financial services in Suriname. You would need to monitor their news and publications sections.
Centrale Bank van Suriname (CBvS): The central bank, responsible for monetary policy, financial stability, and su...
Centrale Bank van Suriname (CBvS): The central bank, responsible for monetary policy, financial stability, and supervision of financial institutions. It has issued warnings regarding cryptocurrencies.
Centrale Bank van Suriname Official Statements: The CBvS periodically issues press releases and statements regard...
Centrale Bank van Suriname Official Statements: The CBvS periodically issues press releases and statements regarding financial sector developments, including warnings about unregulated financial products like cryptocurrencies. Searching their official website (www.cbvs.sr) would show general advisories, but not enforcement actions.
FATF Reports: The FATF evaluates countries' AML/CFT frameworks, including for virtual assets. Suriname's evaluati...
FATF Reports: The FATF evaluates countries' AML/CFT frameworks, including for virtual assets. Suriname's evaluations discuss its legal framework development but not individual enforcement actions.
Centrale Bank van Suriname (CBS): The central bank is the primary financial regulator in Suriname and has issued ...
Centrale Bank van Suriname (CBS): The central bank is the primary financial regulator in Suriname and has issued official statements regarding cryptocurrencies.
There are no specific licenses or permits issued by the CBS or any other Surinamese authority explicitly for operatin...
There are no specific licenses or permits issued by the CBS or any other Surinamese authority explicitly for operating a crypto exchange, providing crypto custody, or processing crypto payments as distinct from traditional financial services.
However, this does not imply a "free pass." If an entity's operations begin to resemble traditional financial ser...
However, this does not imply a "free pass." If an entity's operations begin to resemble traditional financial services (e.g., taking deposits, issuing financial instruments, providing lending services that involve fiat currency or carry financial risk) it could potentially fall under existing financial services laws and require traditional banking, money transfer, or investment licenses from the CBS. This would be determined on a case-by-case basis by the CBS.
Obligation: As a UN member state, Suriname is legally bound to implement sanctions resolutions passed by the UN S...
Obligation: As a UN member state, Suriname is legally bound to implement sanctions resolutions passed by the UN Security Council. These resolutions target individuals, entities, and countries involved in terrorism, proliferation of weapons of mass destruction, and other threats to international peace and security.
Implementation in Suriname: The Government of Suriname, through its financial regulators (primarily the Centrale ...
Implementation in Suriname: The Government of Suriname, through its financial regulators (primarily the Centrale Bank van Suriname - CBvS) and its Financial Intelligence Unit (FIU-S), is responsible for circulating UN sanctions lists (e.g., the UN Security Council Consolidated List) and ensuring financial institutions (which would include VASPs if regulated) comply.
VASP Requirements: VASPs operating in or from Suriname, or dealing with Surinamese customers, must screen all the...
VASP Requirements: VASPs operating in or from Suriname, or dealing with Surinamese customers, must screen all their customers (KYC/CDD) and transactions against the UN sanctions lists. If a match is found, assets must be frozen, and a report made to the FIU-S.
Extraterritorial Reach: The U.S. Office of Foreign Assets Control (OFAC) sanctions primarily apply to "U.S. perso...
Extraterritorial Reach: The U.S. Office of Foreign Assets Control (OFAC) sanctions primarily apply to "U.S. persons" (U.S. citizens, permanent residents, entities organized under U.S. law, and persons within the U.S.). However, OFAC sanctions can have significant extraterritorial effects, especially through secondary sanctions and when transactions involve the U.S. financial system or U.S.-origin technology.
VASP Requirements: VASPs must screen customers and transactions against OFAC's Specially Designated Nationals and...
VASP Requirements: VASPs must screen customers and transactions against OFAC's Specially Designated Nationals and Blocked Persons (SDN) List and other sanctions lists. They should also be aware of OFAC's guidance specifically addressing virtual currency.
Applicability: EU sanctions apply to all EU persons, entities, and anyone operating within the EU's jurisdiction....
Applicability: EU sanctions apply to all EU persons, entities, and anyone operating within the EU's jurisdiction. While Suriname is not an EU member, VASPs in Suriname that have a nexus with the EU (e.g., European ownership, serving EU customers, using EU-based service providers, or transacting with EU-sanctioned individuals/entities) could fall under the scope of EU sanctions.
VASP Requirements: Similar to OFAC, VASPs with an EU nexus must screen against EU sanctions lists, freeze assets,...
VASP Requirements: Similar to OFAC, VASPs with an EU nexus must screen against EU sanctions lists, freeze assets, and report to relevant authorities if matches are found.
The CBvS is the central bank and primary financial regulator in Suriname. While it has issued warnings about the risk...
The CBvS is the central bank and primary financial regulator in Suriname. While it has issued warnings about the risks of cryptocurrencies, comprehensive specific regulations for VASPs are still under development or not yet fully enacted. However, any financial activity, including those involving virtual assets, is expected to adhere to general AML/CFT principles.
Role in Sanctions: The FIU-S would be the primary recipient of reports regarding suspected sanctions violations i...
Role in Sanctions: The FIU-S would be the primary recipient of reports regarding suspected sanctions violations involving virtual assets, once a clear reporting mechanism for VASPs is established. It also disseminates UN sanctions lists domestically.
FATF Recommendations: Suriname, as a jurisdiction subject to FATF assessments, is expected to implement FATF Reco...
FATF Recommendations: Suriname, as a jurisdiction subject to FATF assessments, is expected to implement FATF Recommendation 15 (New Technologies), which requires countries to regulate and supervise VASPs for AML/CFT purposes, including sanctions compliance.
Sanctions Screening: Screen all customers and counterparties (where identifiable), as well as ongoing transaction...
Sanctions Screening: Screen all customers and counterparties (where identifiable), as well as ongoing transactions, against:
Adverse Media Screening: Check for any news or reports linking customers to criminal activity or sanctions evasion.
Adverse Media Screening: Check for any news or reports linking customers to criminal activity or sanctions evasion.
Ongoing Monitoring: Continuously monitor customer activity and re-screen against updated sanctions lists.
Ongoing Monitoring: Continuously monitor customer activity and re-screen against updated sanctions lists.
Russia (extensive sanctions by US, EU, UK, etc., though UN sanctions are less broad)
Russia (extensive sanctions by US, EU, UK, etc., though UN sanctions are less broad)
Other jurisdictions under specific UN, OFAC, or EU sanctions programs (e.g., certain individuals/entities in Belarus,...
Other jurisdictions under specific UN, OFAC, or EU sanctions programs (e.g., certain individuals/entities in Belarus, Venezuela, Myanmar, etc.).
Financial Penalties: Substantial fines for individuals and legal entities.
Financial Penalties: Substantial fines for individuals and legal entities.
Loss of License/Operating Ability: If a regulatory framework for VASPs is established, non-compliance would likel...
Loss of License/Operating Ability: If a regulatory framework for VASPs is established, non-compliance would likely lead to license revocation.
International Penalties: If OFAC or EU sanctions are violated, U.S. or EU authorities can impose their own substa...
International Penalties: If OFAC or EU sanctions are violated, U.S. or EU authorities can impose their own substantial fines, designate the VASP or individuals on their sanctions lists, and block access to their financial systems.
Wet Toezicht Bank- en Kredietwezen 1993 (Banking and Credit Supervision Act 1993): This is the foundational act f...
Wet Toezicht Bank- en Kredietwezen 1993 (Banking and Credit Supervision Act 1993): This is the foundational act for financial institutions, though it doesn't explicitly mention cryptocurrencies. However, if an entity issuing or dealing with tokens is deemed to be performing banking or credit-related activities, this act would apply.
Warnings against Unlicensed Activities: While not directly crypto-specific, the CBvS has historically acted again...
Warnings against Unlicensed Activities: While not directly crypto-specific, the CBvS has historically acted against entities conducting financial services without proper licenses. If a crypto offering were deemed to fall under existing securities or financial services laws, an unlicensed operation would be subject to enforcement action.
Centrale Bank van Suriname (CBvS) Official Website: https://www.cbvs.sr/
Centrale Bank van Suriname (CBvS) Official Website: https://www.cbvs.sr/
General Financial Licensing (Hypothetical): If a stablecoin issuer were deemed to be performing activities that f...
General Financial Licensing (Hypothetical): If a stablecoin issuer were deemed to be performing activities that fall under existing financial services (e.g., banking, payment services, securities brokerage), they would theoretically need to obtain the relevant licenses under laws like the Wet Toezicht Bank- en Kredietwezen 2011 (Banking and Credit Supervision Act 2011) or payment services regulations. However, stablecoin issuance itself is not a defined licensed activity.
Exploration Stage: The Centrale Bank van Suriname (CBvS) has, like many central banks globally, expressed interes...
Exploration Stage: The Centrale Bank van Suriname (CBvS) has, like many central banks globally, expressed interest in exploring the concept of a Central Bank Digital Currency (CBDC). This is typically viewed as a separate initiative to enhance the national payment system and monetary policy, distinct from regulating privately issued stablecoins.
Centrale Bank van Suriname (CBvS) Official Website:
Centrale Bank van Suriname (CBvS) Official Website:
Wet Toezicht Bank- en Kredietwezen 2011 (Banking and Credit Supervision Act 2011):
Wet Toezicht Bank- en Kredietwezen 2011 (Banking and Credit Supervision Act 2011):
None currently exists. As mentioned repeatedly, Suriname has not yet enacted specific legislation addressing the ...
None currently exists. As mentioned repeatedly, Suriname has not yet enacted specific legislation addressing the taxation of cryptocurrencies or virtual assets.
Not Adopted (for VASPs): Suriname's AML/CFT framework, as detailed in its 2019 Mutual Evaluation Report and 2021 ...
Not Adopted (for VASPs): Suriname's AML/CFT framework, as detailed in its 2019 Mutual Evaluation Report and 2021 Follow-Up Report, does not yet define or regulate Virtual Assets or Virtual Asset Service Providers. Without this fundamental recognition and regulatory framework, the specific requirements of the FATF Travel Rule (Recommendation 16, as applied to VASPs under Recommendation 15) cannot be effectively adopted or implemented.
The CFATF MER for Suriname (2019) noted that the country had not conducted a risk assessment related to VAs and VASPs...
The CFATF MER for Suriname (2019) noted that the country had not conducted a risk assessment related to VAs and VASPs, nor had it put in place any legislation or regulation to define, license, register, or supervise them for AML/CFT purposes.
Effective Date: There is no effective date for the Travel Rule as it has not been adopted for VASPs.
Effective Date: There is no effective date for the Travel Rule as it has not been adopted for VASPs.
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