At a recent webinar on October 2, hosted by the Caribbean Digital Finance Alliance (CDFA), fintech professionals across the Caribbean convened to discuss the pressing issue of cryptocurrency regulation. The event, set to formally launch in November, was prompted by Trinidad and Tobago’s (TT) recent proposal to ban virtual assets, sparking a broader regional dialogue on the matter. Moderator Dennis Augustine emphasized that the discussion aimed to explore fundamental policy questions rather than critique specific legislation. He posed a critical question: Should the Caribbean adopt a cautious approach to virtual assets, or is outright prohibition the more prudent stance? Mark Pereira of ZLabs highlighted TT’s forex constraints, noting that the Central Bank’s opaque distribution of US dollars has led individuals to seek alternative methods, including cryptocurrency. Pereira advocated for regulated use of stablecoins to improve forex accessibility. Annie Bertrand of the CDFA underscored the influence of the Financial Action Task Force (FATF) in shaping regional financial compliance, while Prof Louis De Koker warned against the pitfalls of both pausing and banning virtual assets. Pereira proposed a public-private partnership framework, suggesting a regulatory sandbox to allow the Central Bank to test its systems. He emphasized that collaboration between the government and private sector could lead to a progressive virtual asset bill. De Koker echoed this sentiment, highlighting the private sector’s market insights as invaluable to regulators. With the global crypto market now valued at $4 trillion, the consensus was clear: all countries must adapt to this evolving financial landscape.