This week saw the publication of a key document by the BVI financial services regulator, the Financial Services Commission, giving guidance on the regulation of virtual assets. Although the BVI does not yet have a specific law which implements the FATF recommendations for virtual assets, it is nevertheless clear that the BVI's existing regulatory framework is the starting point for assessing whether a product or activity is within the scope of regulation. Of note is a reference in the guidance to the territory's anticipated regulatory sandbox, which will be of interest to those looking to establish a VASP business in the BVI. The guidance will be welcomed by industry participants and investors, as it confirms the Commission's approach to virtual assets, and virtual asset related activities.