The Central American nation of Belize is positioning itself at the forefront of digital asset regulation with comprehensive new legislation designed to establish robust oversight of cryptocurrency and digital asset markets. The proposed bill, currently under consideration in the House of Representatives, introduces stringent compliance requirements including enhanced customer verification protocols, secure digital record-keeping systems, and international information sharing mechanisms.
Prime Minister John Briceño emphasized the urgency of regulatory adaptation during his address to lawmakers. “The global landscape for digital assets is changing rapidly,” Briceño stated. “While the United States previously maintained strong opposition to these activities, the current administration under President Trump has significantly shifted its stance, with substantial family investments entering this sector.”
The legislative initiative directly responds to updated standards from the Financial Action Task Force (FATF), specifically Recommendation 15, which mandates that jurisdictions implement risk-based measures to regulate emerging technologies and digital asset services. Briceño highlighted that Belize cannot afford regulatory stagnation as digital currencies achieve mainstream adoption, noting that alignment with international standards is crucial for the nation’s financial security and economic development.
The regulatory framework aims to balance innovation facilitation with consumer protection, establishing clear guidelines for digital asset service providers while preventing financial crimes. This move positions Belize among a growing number of nations developing structured approaches to cryptocurrency regulation amidst increasing global acceptance of digital assets.