BVI advisor says the GENIUS Act is only the beginning

Core Insights - The United States is refining its digital asset frameworks, while jurisdictions like Singapore and the British Virgin Islands (BVI) are showcasing how balanced regulation can foster innovation and investment [1][4] - Many clients are relocating to the BVI from Europe due to the burdensome regulations under MICA, and there is also an influx of businesses from the US as the previous administration largely ignored crypto [2] - The Trump administration's enactment of the GENIUS Act marked a turning point for digital asset regulation in the US [2] Regulation and Market Dynamics - The focus on stablecoins is seen as a priority for US regulators, driven by pressure from large companies like Amazon, which is developing its own stablecoin [3] - The existing US security legislation is viewed as a benchmark for offshore jurisdictions, indicating a desire for compliance and best practices [3] - The BVI looks to Singapore as a model for regulatory and tourism improvements, emphasizing the need for the US to keep pace with global advancements in digital asset regulation [4]