Grenada regulates cryptocurrency under the Virtual Asset Business Act, 2021 and associated 2024 regulations, with a legal framework supporting virtual asset businesses. The financial regulator GARFIN oversees non-bank financial institutions but the page provides limited direct crypto-specific details.
| Status | Legal |
| Risk Score | 25/100 (Low Risk) |
| Region | caribbean |
| Currency | XCD |
| VAT on Crypto | No |
| Required | Yes |
| Regulator | GARFIN |
| Framework | Virtual Asset Business Act, 2021 and Virtual Asset Business Regulations 2024 |
| Ease | medium |
Licensing is required under the Virtual Asset Business Act with GARFIN as the regulator.
No known enforcement.
| KYC Required | Yes |
| Travel Rule | Yes |
| FATF Member | Yes |
| FATF Status | compliant |
| FATF Body | CFATF |
| Suspicious-Activity Reporting | Yes |
Status: Legal
DeFi activities are generally legal under Grenada's crypto regulatory framework without explicit restrictions.
Status: regulated
Stablecoins fall under the Virtual Asset Business Act regulatory framework and require compliance with licensing and AML rules.
Status: no_rules
No regulation.
| Legal | Yes |
| Electricity Cost | $0.3/kWh |
| Renewable Energy | 10% |
| Infrastructure | fair |
Mining is legal but electricity costs are relatively high, and renewable energy share is low, which may impact mining profitability.
| Stability | stable |
| Sanctions | No |
| Corruption Index | 45/100 |
| Banking Access | moderate |
| Sanctions Program Active | No |
Risk Factors
Grenada is politically stable with no international sanctions. Corruption perception is moderate. The economy is vulnerable to natural disasters which can impact crypto business continuity.
Grenada regulates cryptocurrency under the Virtual Asset Business Act, 2021 and associated 2024 regulations, with a legal framework supporting virtual asset businesses. The financial regulator GARFIN oversees non-bank financial institutions but the page provides limited direct crypto-specific details.
Grenada is classified by FATF as: compliant.
Yes, licensing is required for VASPs.
KYC is mandatory for crypto businesses.
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Explore IT Services →Last reviewed: 2026-09-13 · Data source: Soken Crypto Legal Map
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