There is no clear crypto regulation in Barbados. However, the government and its policy in the field of fintech and business may be called pro crypto. It looks like Barbados has similar policy with other offshore countries that have no clear regulation for crypto, but at the same time allow crypto operations like Costa Rica, Panama, Seychelles and some other jurisdictions.
Barbados has been an early adopter of FinTech (7) in the region. Bitt Incorporated, a Barbadian startup in the Distributed Ledger Technology (DLT) and blockchain space, created a virtual currency in 2016 that was pegged to the value of the Barbados dollar – essentially a digital Barbadian dollar. The Barbados Stock Exchange Inc. (BSE) has also embraced developments within the FinTech (7) sphere. The exchange's recent goal – deploying a trade engine solution, particularly for the trading of securitized crypto tokens.
Together with Belize and the Cayman Islands this country has approved Crypto Asset Reporting Framework (CARF) (8) on the international level. There is a regulatory sandbox regime (9) for Fintechs in the country implented by the Central Bank of Barbados (CBB) and the Financial Services Commission (FSC). So probably crypto entities in Barbados can operate as standard Fintech entities under current regulation.
