VIRTUAL ASSET CAPACITY BUILDING TRAINING HELD IN THE TCI FOR THE PUBLIC AND PRIVATE SECTORS

Providenciales, Turks and Caicos Islands – Thursday, 27th March 2025: The Turks and Caicos Islands Anti-Money Laundering Committee (AMLC), in partnership with the United Nations Office of Drugs and Crime (UNODC), delivered a Virtual Assets Capacity Building Training in Providenciales from March 3rd – 7th, 2025.                                                                                                                                                                                                                The training introduced local law enforcement, regulatory supervisors, and related agencies to a basic understanding of virtual assets (cryptocurrencies), explaining how they work, their risks, and the opportunities they present. The training included a special workshop to raise awareness on the virtual assets (cryptocurrency) for regulated businesses and the private sector.

The virtual assets training was conducted within the context of the National Anti-Money Laundering, Terrorist Financing, and Weapons Proliferation Risk Assessment (NRA), which is currently underway in the Islands.  As part of the NRA, it will help to inform the Cabinet’s decision-making regarding the development of a framework to regulate and supervise virtual assets.

The UNODC is an international organization that provides capacity-building training worldwide. The AMLC engaged the UNODC to assist the Turks and Caicos Islands in navigating this complex area, leveraging the UNODC’s experience in other jurisdictions.

The Honourable Rhondalee Braithwaite-Knowles, Chair of the AMLC commented: “The training fostered both inter-agency collaboration and greater engagement with the private sector on considerations for the development of a proportionate and risk-sensitive regulatory framework for the supervision of virtual assets (cryptocurrency), thereby making the Turks and Caicos Islands not only compliant with international standards, but also competitive in the global market.”