What is Jamaica's FATF status?

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.

🇯🇲 Jamaica

Jamaica regulates crypto under the Financial Services Commission (FSC) framework, which oversees securities, insurance, and pensions. The FSC acts as an integrated financial services regulator with licensing and complaint oversight.

Overview

Status	Legal
Risk Score	40/100 (Moderate Risk)
Region	caribbean
Currency	JMD

Tax Information

VAT on Crypto

The regulator page does not specify crypto tax details.

Licensing & Registration

Required	Yes
Regulator	FSC Jamaica / BOJ
Framework	Financial Services Commission (FSC) regulatory framework
Ease	unknown

FSC licenses financial brokers, advisers, and firms; specific crypto licensing details not provided.

Enforcement Activity

Level: Low

Limited enforcement. Consumer warnings issued.

CBDC

Status	Launched
Name	JAM-DEX
Issuing Authority	Bank of Jamaica
Model	retail
Technology	eCurrency Mint (Non-DLT)
Launched Date	2022-07-01

AML / KYC

KYC Required	Yes
Travel Rule	Yes
FATF Member	Yes
FATF Status	compliant
FATF Body	FATF
Suspicious-Activity Reporting	Yes

DeFi, Stablecoins & NFTs

Status: Unclear

No explicit information on DeFi regulation found on the regulator page.

Stablecoins

Status: unknown

No information on stablecoin regulations provided.

NFTs

Status: no_rules

No regulation.

Mining

Legal	Yes
Electricity Cost	$0.28/kWh
Renewable Energy	12%
Infrastructure	fair

Mining is legal with relatively high electricity costs and limited renewable energy share.

Geopolitical Risk

Stability	moderate
Sanctions	No
Corruption Index	43/100
Banking Access	moderate
Sanctions Program Active	No

Risk Factors

capital controls
currency volatility

Jamaica has moderate political stability and moderate ease of doing business. It is not under international sanctions but faces economic risks such as currency volatility.