Quick Answer
Yes, cryptocurrency is legal but unregulated in Trinidad and Tobago.
- The government does not regulate or supervise cryptocurrency transactions or providers.
- There are no legal restrictions, but some banks may block crypto purchases.
Legal Status of Crypto in Trinidad And Tobago
Cryptocurrency in Trinidad and Tobago currently exists in a legal gray area. It is not illegal to purchase or own digital assets, but the sector is neither regulated nor supervised by the government, which has adopted a cautious, risk-averse stance. Regulatory bodies—including the Central Bank, the TTSEC, and the Financial Intelligence Unit—have issued public warnings but have not implemented specific crypto legislation. While existing frameworks like the Securities Act and AML/CFT guidelines may apply, there are no dedicated regulations or consumer protections for crypto users.
Current Regulations
As of now, Trinidad and Tobago has no specific laws or regulations governing cryptocurrencies. The country's main financial authorities—the Central Bank, the TTSEC, and the Financial Intelligence Unit—issued a joint public advisory confirming that crypto providers are neither regulated nor supervised, leaving no consumer protection for losses. However, a cryptocurrency may be subject to existing laws if it meets the definition of a security, such as an "investment contract," under the Securities Act of 2012. This means that while buying crypto is considered legal, the market operates without a dedicated supervisory framework.
Regulatory Authorities
While no specific crypto regulations exist, oversight would fall to the country's main financial authorities.
- Trinidad and Tobago Securities and Exchange Commission (TTSEC): The TTSEC regulates the local securities market and determines if a cryptocurrency qualifies as a security under the Securities Act of 2012. If an asset is deemed a security, it falls under the TTSEC's purview, which includes enforcing compliance with securities laws and anti-money laundering regulations.
- Central Bank of Trinidad and Tobago: The Central Bank is responsible for financial system stability and has issued warnings about the risks associated with unregulated digital currencies. It is also researching the feasibility of a central bank digital currency (CBDC) but does not currently regulate or supervise crypto providers.
- Financial Intelligence Unit of Trinidad and Tobago (FIU): The FIU is responsible for anti-money laundering (AML) and counter-financing of terrorism (CFT) oversight across the financial sector. It assesses the risks of cryptocurrencies being used for illicit activities and ensures financial institutions comply with customer due diligence and reporting obligations.
Historical Context
Trinidad and Tobago's approach to crypto has been cautious. The Central Bank first showed interest by including CBDC research in its 2016-2021 strategic plan. A key policy shift occurred in January 2019, when regulatory bodies issued a joint public advisory clarifying that cryptocurrencies are unregulated. This left consumers without protection and led most commercial banks to block crypto purchases. While CBDC research continues, authorities are also developing a Regulatory Sandbox to assess fintech products, signaling a slow move from a hands-off stance toward potential future oversight on a case-by-case basis.
Compliance Requirements for Businesses in Trinidad And Tobago
Businesses in Trinidad and Tobago, particularly financial institutions and other supervised entities, must adhere to a strict set of rules to prevent financial crimes. Key obligations outlined in government guidance include:
- Anti-Money Laundering (AML) Checks: A multi-layered approach to identify and mitigate risks.
- Customer Due Diligence (CDD): Identifying and verifying customers and beneficial owners, with enhanced checks for high-risk clients.
- Transaction Monitoring: Using systems to detect unusual patterns and report suspicious activity to the Financial Intelligence Unit (FIU).
- Risk Assessment: Conducting and regularly updating enterprise-wide risk assessments, as detailed in the AML/CFT guideline.
- Know Your Customer (KYC) Requirements: The process of verifying a customer's identity.
- Identification: Collecting and verifying information like name, address, date of birth, and nationality for individuals, and incorporation details for legal entities.
- Beneficial Ownership: Identifying the natural person(s) who ultimately own or control a legal entity.
- Ongoing Monitoring: Regularly reviewing and updating customer information to ensure it remains current, a key point in the FIU's due diligence guidance.
- Other Mandatory Procedures: Internal frameworks required to support compliance.
- Compliance Officer: Appointing a dedicated and approved Compliance Officer with direct access to senior management.
- Record Keeping: Maintaining all CDD information, transaction data, and training records for at least six years.
- Independent Audits: Conducting annual external and periodic internal audits of the compliance program.
- Employee Training: Implementing ongoing training programs for all relevant staff on their AML/CFT obligations.
- Sanctions Screening: Checking customers and transactions against relevant sanctions lists.
Why this matters for Cross-Border Payments
The absence of a clear regulatory framework for crypto in Trinidad and Tobago creates significant uncertainty for businesses handling cross-border payments. This legal ambiguity can deter international partners, who may be wary of engaging in transactions within an unregulated market, fearing compliance and reputational risks. Consequently, businesses may face operational hurdles such as blocked transactions by local banks, delayed settlements, and heightened scrutiny from global financial institutions. These pain points ultimately increase the friction and cost of moving money into and out of the country using digital assets.
How Lightspark Enables Compliant Crypto-Native Payments
Lightspark offers a platform to navigate this complex landscape, providing infrastructure for instant, global payments powered by Bitcoin. Its core products, Lightspark Connect and Grid Switch, abstract away the technical hurdles of the Lightning Network. Connect gives businesses native access to Bitcoin for real-time transfers, while Grid Switch bridges traditional finance with crypto by enabling fiat-to-fiat transactions over domestic real-time payment rails. This combination allows money to move across borders in seconds, addressing the high costs and delays of legacy systems.
For regulated institutions, Lightspark provides tools to help meet stringent compliance obligations. The platform offers audit-ready reporting, flexible custody options, and developer-friendly APIs with built-in features to support requirements like the travel rule. By handling the complexities of liquidity, routing, and node management, Lightspark enables financial institutions to leverage crypto for cross-border payments while maintaining their own compliance frameworks for AML and KYC, turning a regulatory gray area into a manageable operational reality.
To see how Lightspark can help your business leverage compliant, crypto-native payments, explore their solutions.
Notice: This article is provided for informational purposes only and does not constitute legal advice.
Sources
- Central Bank of Trinidad and Tobago. Guideline on Anti-Money Laundering and Combatting of Terrorism Financing. Central Bank of Trinidad and Tobago, 16 Apr. 2018, www.central-bank.org.tt/cbtt_storage/pdf/aml-cft-guideline.pdf.
- “Cryptocurrency Regulation Tracker.” Proelium Law LLP, Proelium Law LLP, 2025, proeliumlaw.com/cryptocurrency-regulation-tracker/.
- Financial Intelligence Unit of Trinidad and Tobago. Customer Due Diligence Guidance to Supervised Entities. Financial Intelligence Unit of Trinidad and Tobago, July 2025, fiu.gov.tt/wp-content/uploads/2025/07/14_07_25_Customer-Due-Diligence-Guidance-Updated-2025.pdf.
- “Is Cryptocurrency a Security?” InvestucateTT, Trinidad and Tobago Securities and Exchange Commission, n.d., investucatett.com/is-cryptocurrency-a-security/.
- Javeed, Asha. “Central Bank on Cryptocurrencies: No Restrictions on Purchases.” Trinidad Express, 27 Feb. 2022, trinidadexpress.com/newsextra/central-bank-on-cryptocurrencies-no-restrictions-on-purchases/article_f63b844a-9814-11ec-b6dd-eba4fb498a14.html.
- Knight, James. “7 Best Exchanges to Buy Bitcoin in Trinidad and Tobago 2025.” Invezz, 17 Apr. 2025, invezz.com/cryptocurrency/best-crypto-exchanges/trinidad-and-tobago/.
- “Trinidad - Tobago and Cryptocurrency | Blockchains and Cryptocurrency Laws.” Freeman Law, Freeman Law, n.d., freemanlaw.com/cryptocurrency/trinidad-and-tobago/.
