Crypto Overview in Guyana

Regulatory data is for informational purposes only and may not reflect the most current legal developments. Always consult qualified professionals before making decisions.

The Co-operative Republic of Guyana, a CARICOM member on the Caribbean coast of South America, occupies a restrictive regulatory position on cryptocurrencies. Digital assets have no legal tender status and no statutory definition under Guyanese law. The AML/CFT Amendment Act No. 15 of 2023 brought virtual asset activities under the country’s AML/CFT supervisory framework while simultaneously placing a moratorium on VASP licensing, meaning no virtual asset service provider has been authorized to operate. Regulatory development is driven by CFATF pressure rather than fintech ambition, and government attention remains directed toward conventional banking modernisation and AML compliance as it manages one of the fastest economic expansions in modern history, powered by offshore oil revenues from the ExxonMobil-operated Stabroek Block.

Legal Classification and Regulatory Framework

Cryptocurrency Status

Cryptocurrencies are not recognised as legal tender and carry no statutory definition in Guyanese law. The Bank of Guyana has used existing legislation, including the Bank of Guyana Act 1998 and the Dealers in Foreign Currency (Licensing) Act 1989, to challenge unauthorised crypto-related trading activity under foreign-exchange frameworks. The Attorney General publicly stated in November 2020, during the Accelerated Capital Firm (ACF) Ponzi scheme investigation, that cryptocurrency is not legal in Guyana. The ACF case, which affected approximately 17,000 Guyanese and involved alleged losses exceeding US$20 million, became the most prominent reference point for official policy: the principals proposed repaying investors in Bitcoin via the CoinZoom app, a move the Attorney General characterised as a further evasion tactic. The Guyana Securities Council issued public warnings against ACF in October 2019 and January 2020 for conducting unregistered securities business.

The AML/CFT Amendment Act No. 15 of 2023, gazetted on 16 August 2023, made two significant changes: it formally designated virtual asset and VASP activities as subject to AML/CFT supervision, and it placed a moratorium on VASP licensing and operations. Financial and non-bank financial institutions were instructed to remain alert and to monitor the sector, while retaining the ability to process customer card payments made to offshore crypto exchanges via standard VISA merchant codes. The practical result is a market that exists informally for retail users while remaining closed to institutional or licensed domestic participation.

Tax Treatment

The Guyana Revenue Authority (GRA) has not issued any crypto-specific guidance, and cryptocurrency is not mentioned on the GRA’s official website. The 2023 national virtual asset risk assessment acknowledged that the existing tax framework does not address virtual assets and will require legislative amendment. Until that amendment occurs, default rules apply: personal income tax is progressive, reaching a top rate of 40%; corporate income tax is 25% for non-commercial companies and up to 40% for commercial entities; corporate capital gains tax is 20%; and VAT applies to business activity. Tax evasion is a predicate offence under the AML/CFT Act, so unreported gains from crypto trading carry compounded legal exposure beyond standard tax liability.

Regulatory Oversight

Guyana’s 2023 Virtual Asset and VASP Risk Assessment, published by the Financial Intelligence Unit (FIU Guyana) and coordinated through the AML/CFT/PF National Coordination Committee (NCC), formally designated the Bank of Guyana (BoG) and the Guyana Securities Council (GSC) as the lead supervisory bodies for any future virtual asset framework. The Financial Intelligence Unit handles AML/CFT reporting obligations. The working group that produced the risk assessment also included the Attorney General’s Chambers, the Special Organised Crime Unit (SOCU) of the Guyana Police Force, the GRA, the Gaming Authority, and the Commercial and Deeds Registry. No standalone crypto regulator exists; supervision would be distributed across these bodies once a licensing framework is enacted.

Business Environment

Banking Relationships

The Bank of Guyana’s policy requires commercial banks to prohibit accounts and wire transfers to or from VASPs. With no licensed VASPs operating in Guyana, formal banking access for crypto businesses is effectively closed. Commercial banks that participated in the 2023 risk assessment classified crypto exposure as high risk and made individual de-risking decisions aligned with FATF Recommendation 15 expectations. The one limited exception identified in the risk assessment is that banks may process customer VISA card payments directed to offshore crypto exchange merchant codes, which are monitored via card transaction data but are not operationally blocked.

Innovation Support

Guyana does not operate a fintech regulatory sandbox, has not published a blockchain or digital economy strategy, and has no central bank digital currency project. This contrasts with several CARICOM peers: the Bahamas has the Sand Dollar CBDC alongside the Digital Assets and Registered Exchanges Act; Jamaica operates the JAM-DEX CBDC and a fintech regulatory sandbox. Despite Guyana recording GDP growth rates of 63.3% in 2022, 33.8% in 2023, and 43.6% in 2024 (the highest globally in each of those years), driven by ExxonMobil’s Stabroek Block producing approximately 645,000 barrels per day by early 2024, the government’s financial sector attention has been directed toward conventional banking infrastructure, AML/CFT compliance, and management of oil revenues through the Natural Resource Fund rather than toward crypto or fintech sector enablement.

Crypto License in Guyana

No virtual asset service provider licensing regime exists in Guyana. The AML/CFT Amendment Act No. 15 of 2023 brought VASP activities under AML/CFT supervisory scope while simultaneously imposing a moratorium on their operation, meaning there is currently no formal pathway for a company to become a licensed crypto entity in the country.

Current Status

As of 2025, operating a VASP in Guyana is subject to the moratorium introduced by the AML/CFT Amendment Act No. 15 of 2023. No VASP license has ever been issued by any Guyanese regulator. Crypto exchanges, custodians, and brokers have no legal basis on which to register, apply for approval, or obtain authorisation. The Bank of Guyana and Guyana Securities Council are designated as the future supervisory bodies for virtual assets, but neither has published draft VASP regulations, licensing criteria, capital requirements, or a consultation timeline. The Guyana Securities Council retains authority under the Securities Industry Act 1998 to pursue crypto-linked investment schemes that operate as unregistered securities offerings, a power that was exercised against multiple entities during the ACF-era enforcement actions. Separately, some sources report that a 2024 government initiative introduced mandatory declaration of virtual assets, though full details of that measure have not been confirmed in official publications.

Why No Framework

The 2023 national VA/VASP Risk Assessment concluded that virtual asset and VASP activities should be prohibited at the time of the assessment, citing three primary concerns. First, Guyana’s financial and technological infrastructure was assessed as insufficiently developed to support robust VASP supervision. Second, VASP channels were rated as high ML/TF risk due to anonymity features, absence of regulation, and accessibility to criminal actors. Third, the AML/CFT regime was still being reinforced through the 2023 amendments and the CFATF 4th Round Mutual Evaluation process, which involved an on-site visit in September 2023 and resulted in the report being adopted at the CFATF 58th Plenary in June 2024. Guyana’s domestic enforcement capacity for new high-risk activity classes was assessed as limited, particularly for designated non-financial businesses and professions. The government preferred to consolidate AML compliance gains before opening a regulated crypto sector.

What Operators Should Know

Foreign virtual asset businesses targeting Guyanese customers face significant legal uncertainty. There is no opt-in registration or exemption mechanism. The AML/CFT Amendment Act 2023 designates VA/VASP activities as regulated sectors, meaning cross-border VASPs technically carry AML/CFT obligations under Guyanese law without any licensing pathway to fulfil them. Commercial banks will not open accounts or process wire transfers for VASP businesses. The GRA has acknowledged that its tax framework does not cover virtual assets, so the tax position of operators and investors remains legally uncertain. Any change to the moratorium would require a formal amendment to the AML/CFT Act or subordinate regulations issued by the BoG or GSC; no public consultation on such changes had been announced as of 2025. Any VASP framework development is more likely to emerge from the AML/CFT reform track than from standalone fintech legislation.

Market Characteristics

Adoption Patterns

Retail crypto usage in Guyana is informal, concentrated in remittance-style flows and speculative trading via offshore exchanges accessed through VISA card payments. There is no licensed domestic venue for fiat-to-crypto conversion, no domestic exchange, and no published on-chain adoption data of reliable quality. Awareness of fraud risk is relatively high among the population following the ACF Ponzi case, in which approximately 17,000 Guyanese were affected by a scheme that ultimately attempted to use cryptocurrency as a repayment mechanism.

Industry Focus

No domestic crypto industry has formed around custody, exchange, or token issuance. Crypto mining activity is negligible and no energy or environmental policy on mining has been adopted, despite Guyana’s position as one of the world’s fastest-growing oil producers with emerging energy infrastructure. The economic narrative in Guyana remains centred on hydrocarbons, infrastructure investment, and agriculture, with the Natural Resource Fund holding approximately US$3.25 billion by end 2025 as oil revenues from the Stabroek Block continue to grow.

Regulatory Evolution

The CFATF 4th Round Mutual Evaluation Report on Guyana was adopted in June 2024 following an on-site visit in September 2023. Guyana received favourable ratings on national coordination, risk understanding, and FIU operations. Weaknesses were noted in supervision of designated non-financial businesses and professions and a low ML conviction rate. Guyana is not on the FATF grey or black list. The country was scheduled to report to CFATF in November 2025 on remediation actions. Future virtual asset rules are most likely to emerge from this AML/CFT reform track; the existing moratorium means any licensing regime would require a formal legislative amendment. CARICOM has not yet produced a regional VASP framework, leaving each member state to develop its own approach.