---
type: country
domain: crypto-regulation
status: stable
tags: ["crypto-regulation", "caribbean", "legal"]
aliases: ["JM", "JAM"]
created: 2026-09-16
updated: 2025-06-01
compile_into: ["[[country--jamaica]]"]
sources:
  - name: "FSC Jamaica"
    url: "https://www.fscjamaica.org"
    type: "official"
  - name: "JIS: Debate Begins on Virtual Assets Service Providers Act"
    url: "https://jis.gov.jm/debate-begins-on-virtual-assets-service-providers-act"
    type: "official"
  - name: "taxsummaries.pwc.com"
    url: "https://taxsummaries.pwc.com/quick-charts/capital-gains-tax-cgt-rates"
    type: "reference"
  - name: "taxsummaries.pwc.com"
    url: "https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates"
    type: "reference"
  - name: "taxsummaries.pwc.com"
    url: "https://taxsummaries.pwc.com/jamaica/individual/income-determination"
    type: "reference"
---

# 🇯🇲 [[country--jamaica|Jamaica]] (JM): Crypto Regulation

> Jamaica has no crypto licensing law in force yet. The Virtual Asset Service Providers Bill, which would require any business serving persons in Jamaica to hold a licence from the Financial Services Commission, has been under debate in the House of Representatives since 22 September 2026. The bill does not make virtual assets legal tender.

## Overview

| Field | Value |
|-------|-------|
| Status | Legal |
| Risk Score | 25/100 (Low Risk) |
| Enforcement Level | Low |
| Region | [[domain--caribbean|caribbean]] |
| Currency | [[entity--jmd|JMD]] |

## Tax

| Type | Rate |
|------|------|
| Capital Gains (Personal) | No capital gains tax |
| Capital Gains (Corporate) | No capital gains tax; trading profits taxed at 25% (33.33% for regulated companies) |
| VAT on Crypto | No |

Jamaica has no capital gains tax, so crypto gains on investments are not taxed; no crypto-specific tax guidance has been published. Business profits are taxed at 25% (33.33% for regulated companies).

## Licensing

| Field | Value |
|-------|-------|
| Required | Yes |
| Regulator | [[entity--fsc-jamaica|FSC Jamaica]] / BOJ |
| Framework | Virtual Asset Service Providers Bill (before Parliament, debate opened 22 September 2026) |
| Ease | medium |
| Cost | N/A |
| Timeline | N/A months |

The VASP Bill is pending and expected to establish licensing requirements for crypto service providers.

## AML / KYC

| Field | Value |
|-------|-------|
| KYC Required | Yes |
| Travel Rule | Yes |
| FATF Member | No |
| FATF Status | compliant |

## DeFi

**Status:** Unclear

Jamaica has no DeFi-specific regulation.

## Stablecoins

**Status:** unknown

No information on stablecoin regulations provided.

## NFTs

**Status:** no_rules

No regulation.

## Mining

| Field | Value |
|-------|-------|
| Legal | Yes |
| Electricity Cost | $0.28/kWh |
| Renewable Energy | 12% |
| Climate | tropical |
| Infrastructure | fair |

Mining is legal but electricity costs are relatively high, and renewable energy share is low, which may impact profitability.

## Geopolitics

| Field | Value |
|-------|-------|
| Stability | moderate |
| Sanctions | No |
| Corruption Index | 43/100 |
| Ease of Business | moderate |
| Internet Freedom | free |
| Banking Access | moderate |
| Sanctions Programs Active | No |

## Enforcement

Limited enforcement. Consumer warnings issued.

## CBDC

| Field | Value |
|-------|-------|
| Status | launched |
| Name | JAM-DEX |
| Authority | Bank of Jamaica |
| Type | retail |
| Launched | 2022-07-01 |

## FAQ

### Is cryptocurrency legal in Jamaica?

Jamaica has no crypto licensing law in force yet. The Virtual Asset Service Providers Bill, which would require any business serving persons in Jamaica to hold a licence from the Financial Services Commission, has been under debate in the House of Representatives since 22 September 2026. The bill does not make virtual assets legal tender.

### What is the FATF status of Jamaica?

Jamaica is classified by FATF as: compliant.

### Are VASPs licensed in Jamaica?

Yes, licensing is required for VASPs.

### What is the AML/KYC regime in Jamaica?

KYC is mandatory for crypto businesses.

---

*Data source: [Soken Crypto Legal Map](https://soken.dev/crypto-map/). Last reviewed: 2026-09-16.*

**Sources:**
- [FSC Jamaica](https://www.fscjamaica.org)
- [JIS: Debate Begins on Virtual Assets Service Providers Act](https://jis.gov.jm/debate-begins-on-virtual-assets-service-providers-act)
- [taxsummaries.pwc.com](https://taxsummaries.pwc.com/quick-charts/capital-gains-tax-cgt-rates)
- [taxsummaries.pwc.com](https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates)
- [taxsummaries.pwc.com](https://taxsummaries.pwc.com/jamaica/individual/income-determination)