2018-7-20 01:12 |
If recent developments are any indication, Bermuda is perhaps well on the path to quickly becoming the global leader for the issuance of digital assets.
Bermuda seeks to embrace the potential afforded by digital assets but not at the expense of tarnishing its pristine international finance reputation.
Bermuda recognizes that digital assets present significant risks that require robust anti-money laundering (AML) and anti-terrorism financing (ATF) regulations but believes that the ICO Act and DABA are suitable safeguards.
The Digital Asset Business Act DABA, which was passed in June 2018, regulates “digital asset business” conducted in or from Bermuda.
These endeavors should solidify the island as the jurisdiction of choice for international fintech entrepreneurs and confirm the Bermuda Standard as best-in-class.
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