Curaçao Seeks Stricter Crypto Rules Amid Gaming Revenues Probe

Financial forensic investigator Luigi Faneyte is proposing changes to Curaçao's legislation governing virtual assets. The aim is to protect public funds received through cryptocurrency, foreign payment providers, and digital asset service providers.

The proposed amendments target the Landsverordening toezicht virtuele activa dienstverleners (LTVAD), which took effect on July 4, 2025. Faneyte wants stronger safeguards to ensure that public revenues can only be received through officially designated and fully traceable accounts and wallets.

He believes that 'public money must always be traceable,' allowing for it to be tracked from the moment it's received until it's recorded in government administration and transferred to the national treasury. Faneyte also wants mandatory risk assessments before government institutions or entities with public responsibilities use virtual assets or foreign payment providers.

The proposal would require stronger links between invoices, bank transactions, cryptocurrency wallet movements, and government accounting systems. Independent audits and periodic reporting would form part of the proposed framework.