U.S. Virgin Islands (VI)
Money transmission and virtual currency licensing planning data for U.S. Virgin Islands. US territory.
Population weight (planning): 0.03% · Back to matrix · Launch map
How to read this page: confirmed cells are checked against a primary regulatory source and dated. Under review marks a cell where primary sources conflict or a figure awaits confirmation.
MTL required
Limited, and in practice no viable route for a CVC exchange. Title 9 V.I.C. section 511 requires a money transmission licence for traditional fiat transmission, but Bulletin 2022-01 states the Banking Board will not approve or consider a money transmission application from an entity performing cryptocurrency services.
Verified 2026-07-16. Source
Fiat treatment
Selling or issuing payment instruments or stored value, or receiving money or monetary value for transmission, is licensed money transmission under Title 9 V.I.C. section 511, Uniform Money Services Act, Subchapter II.
Verified 2026-07-16. Source
Virtual currency treatment
The Banking Board has formally determined cryptocurrency is a non-licensed product in the territory: not specifically authorised under Title 9, and not regulated by the Division. Money transmitter licensure 'extends only to persons performing traditional money transmission services,' per Bulletin 2022-01 (11 April 2022), which bars approval of applications from entities performing cryptocurrency services.
Verified 2026-07-16. Source
Regulator
Office of the Lieutenant Governor, Division of Banking, Insurance and Financial Regulation; policy is set by the Virgin Islands Banking Board, chaired by the Lieutenant Governor.
Verified 2026-07-16. Source
NMLS / portal
Not on NMLS for money transmission. Applications go directly to the Division of Banking, Insurance and Financial Regulation; no Virgin Islands money transmitter checklist could be located on NMLS's state resource pages.
Verified 2026-07-16. Source · under review
MTMA adoption
none: not tracked by CSBS; this jurisdiction operates its own regime.
Verified 2026-07-16. Source
Launch posture
red: The Banking Board has formally stated it will not approve or consider a money transmission licence for an entity performing cryptocurrency services, so no lawful route.
Verified 2026-07-16. Source
Net worth / capital (locked)
Net worth / capital is included with access.Permissible investments (locked)
Permissible investments is included with access.Exam / audit timeline (locked)
Exam / audit timeline is included with access.Practitioner notes (locked)
Practitioner notes is included with access.Under the planning scenario
LicenceMap's bond and net worth figures use one scenario throughout: a virtual currency exchange with a fiat on and off ramp, $50m in annual US transmission volume, $2m in average daily outstanding liability, and a single principal office.
Surety bond: Surety bond is included with access.
Net worth / capital: Net worth / capital is included with access.