Barbados Compliance Report

Regulatory Overview

Regulatory Status

Dedicated crypto/VA legislation, licensing regime, active enforcement

Key Regulator(s)

Financial Services Commission, Anti-Money Laundering Authority

Primary Legislation

Barbados Parliament - Digital Assets Act, 2019 (Note: This link is to the origin, The Act may imply or require key management personnel to be resident in Barbados, The Digital Assets Act mandates that a VASP must maintain adequate financial res, A notable gap in Barbadian regulation is the lack of clear licensing requirement

Travel Rule

Adopted — Threshold: ,

Tax Reporting

No Capital Gains Tax: Barbados does not levy a general capital gains tax on individuals or corporations. This is a significant point for cryptocurrency investors.. Implication: If you buy cryptocurrency and sell it for a profit, and that activity is considered an investment rather than a business or trade, the profit is generally not subject to capital gains tax in Barbados.. Mining Income: If an individual or business regularly mines cryptocurrency, the fair market value of the earned cryptocurrency at the time of receipt may be considered taxable income.. Staking Rewards/Lending Income: Income earned from staking or lending cryptocurrency (e.g., interest, rewards) is likely to be treated as ordinary income.. Business Profits: If an individual or entity operates a business that accepts cryptocurrency as payment for goods or services, the fair market value of the cryptocurrency received is included in the business's taxable income. Similarly, profits from crypto-related services (e.g., running a crypto exchange, providing crypto consulting) would be subject to corporate or individual income tax.

Key Facts

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