Is Crypto Legal in Saint Lucia?

Cryptocurrency is legal in Saint Lucia, with regulatory oversight established under the Virtual Assets Business Act passed in December 2022. The legislation provides for the licensing and supervision of virtual asset service providers and was enacted to bolster Saint Lucia's anti-money laundering, terrorist, and proliferation financing framework (1). The Financial Services Regulatory Authority (FSRA) is the governing body tasked with licensing Virtual Asset Service Providers in Saint Lucia, ensuring proper supervision and monitoring of the sector (2).

Virtual assets are defined as digital representations of value that can be traded or used for payment or investment, with cryptocurrencies like Bitcoin and Litecoin being the most commonly known examples (1). Despite the regulatory framework being in place, there are currently no registered Virtual Assets Service Providers operating within the country (2). However, the recently completed National Risk Assessment rated the threat and vulnerability of the sector as medium-high and medium respectively, due to reported active participants in the international virtual assets market (2).

"Considering the recent revisions made by the FATF, in terms of recommendation 15, new technologies, and the growing presence of this sector in our region, the cooperation of all relevant stakeholders is very important in implementing measures that deter misuse of the sector for illicit purposes."

Saint Lucia is part of the Eastern Caribbean Currency Union and operates under the monetary policy set by the Eastern Caribbean Central Bank (ECCB). The ECCB has conducted workshops to enhance awareness of international standards and best practices relating to the virtual assets sector, aiming to ensure Saint Lucia gains advantages from digitization while protecting citizens from excessive risk (2). Virtual assets introduce additional complexities such as credit and ethics risks, liquidity risks, consumer protection concerns, and heightened money laundering risks, presenting challenges for supervisory authorities (2).

Source:
https://attorneygeneralchambers.com/news/virtual-asset-legislation-enacted-to-bolster-saint-luciaas-anti-money-laundering-legislation
https://www.govt.lc/news/virtual-asset-licensing-and-risk-assessment-workshop

Last updated: 19-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.