The Impact of Digital Assets on Regulatory Compliance, Risk Management, and AML Enforcement in the BVI
Research Participant Consent Form
Name of Researcher
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Name of Supervisor
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I confirm that I have read and understood the information sheet for the above study and what my contribution will be
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Yes
No
I agree to take part in the survey
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Yes
No
I understand that my participation is voluntary and that I can withdraw from the research at any time without giving any reason
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Yes
No
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Background Information
What is your current role?
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Compliance Officer
Legal Advisor
AML Professional
Regulator
Money Laundering Reporting Officer
Compliance Administrator/Analyst
Auditor/Consultant
Senior Manager/Executive
Other (please specify)
How many years of experience do you have in the BVI financial services sector?
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Less than 3 years
3–5 years
6–10 years
More than 10 years
What is your primary sector of employment?
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TCSP/Fiduciary
Banking
Funds
Insurance
VASP (Virtual Asset Service Provider)
Legal practice
Regulatory authority
Consultancy/Audit
Other, Please State___________________________________
Are you currently involved in digital asset‑related activities or oversight?
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Yes — directly involved in operations
Yes — compliance/oversight role
Yes — advisory/support role
Indirectly — exposure through clients or counterparties
Not currently involved
Planning to engage within the next 12 months
No plans to engage, but monitoring developments
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Regulatory Framework Effectiveness
How effective has the VASP Act (2022) been in regulating digital asset businesses in the BVI?
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Not effective at all
Slightly effective
Moderately effective
Effective
Extremely effective
Do you believe the current BVI regulatory framework provides sufficient coverage for digital asset activities?
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Yes
No
Partially
Unsure
How useful do you find FSC guidance notes in clarifying digital asset compliance obligations?
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Not useful
Somewhat useful
Useful
Very useful
How useful do you find FSC trainings in clarifying digital asset compliance obligations?
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Not useful
Somewhat useful
Useful
Very useful
How useful do you find FSC industry circulars in clarifying digital asset compliance obligations?
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Not useful
Somewhat useful
Useful
Very useful
What are the most significant regulatory gaps affecting digital asset oversight in the BVI?
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How confident are you in the FSC’s enforcement capacity to supervise digital asset risks?
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Not confident
Somewhat confident
Neutral
Confident
Very confident
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Blockchain Tools & AML Risk Management
Which blockchain-based tools are currently used in your organisation? (Select all that apply)
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Smart contracts
Transaction monitoring platforms
Digital identity/KYC systems
Blockchain analytics/KYT tools
None
Other (please specify)
How effective are blockchain tools in enhancing AML compliance?
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Not effective at all
Slightly effective
Moderately effective
Effective
Extremely effective
Do you believe blockchain tools can reduce manual compliance burdens in the BVI?
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Strongly disagree
Disagree
Neutral
Agree
Strongly agree
What factors limit the adoption of blockchain tools in your organisation? (Select all that apply)
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Cost
Lack of technical expertise
Regulatory uncertainty
Data privacy concerns
Limited vendor options
Other (please specify)
Which blockchain features are most valuable for AML enforcement in your view? (Select up to two)
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Immutability
Transparency
Traceability
Automation via smart contracts
Decentralisation
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Legal & Operational Integration
What are the most pressing legal or operational challenges your organisation faces in integrating digital assets?
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Defining token status
Adapting AML procedures
Staff training
Cross-border compliance
Updating internal controls
Other (please specify)
Has your organisation updated its AML/CFT procedures to accommodate digital asset risks?
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Yes, comprehensively
Yes, partially
No
Not applicable
How confident are you in your organisation’s ability to manage digital asset-related compliance risks?
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Not confident
Somewhat confident
Neutral
Confident
Very confident
What training or support would help your team better manage digital asset compliance?
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In your experience, have digital assets increased compliance workload in the BVI?
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Yes, substantially
Moderately
Minimally
Not at all
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International Alignment & Strategic Outlook
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Do you believe the BVI’s digital asset regulations are aligned with international best practices (e.g., FATF, CARF, MiCA)?
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Strongly disagree
Disagree
Neutral
Agree
Strongly agree
Has your organisation taken steps to comply with international standards such as FATF’s Travel Rule or CARF reporting?
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Yes
No
In progress
Not applicable
What risks do you associate with the BVI failing to fully align with emerging global standards?
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What reforms or initiatives would you recommend to strengthen the BVI’s digital asset regulatory framework?
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How do you perceive the BVI’s regulatory position toward innovation in the digital asset space?
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Enabling
Cautious
Reactive
Balanced
What reputational risks do you foresee for the BVI if digital asset regulation is not strengthened?
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