Bermuda confirms crypto hub ambitions despite market downturn
“We are aware of the recent devaluation in the price of cryptocurrencies and remain confident that it does not threaten the island’s ability to become a crypto hub,” said Bermuda’s minister of economy and labor, Jason Hayward. The Bermuda government is pushing on with its ambitious plans to become a cryptocurrency hub despite the massive market downturn in 2022. The small island territory known for its pristine pink sand beaches and attractive taxation policies has been actively expanding its crypto sector since 2017, according to Bermuda’s minister of economy and labor, Jason Hayward. He....
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Bermuda is the latest country that wishes to be in the forefront when it comes to crypto and its regulations. It is now set to develop an extensive and comprehensive crypto regulatory framework. Through maintaining this transparency, Bermuda is attempting to attract more cryptocurrency related projects, and companies who are enthusiasts in this particular field. […]
Bermuda Premier David Burt said that 24 Exchange’s regulatory approval is the “first license of its kind to be issued in Bermuda.” A multi-asset class trading firm in Bermuda has secured major regulatory approval allowing it to offer cryptocurrency trading services.Over-the-counter trading platform 24 Exchange has acquired a “Class T” digital asset business licence from the Bermuda Monetary Authority (BMA) to roll out cryptocurrency trading on its institutional-grade platform. The firm officially announced Tuesday that the new license was granted under the Bermuda Digital Asset Business....
Bermuda continues to welcome fresh wave of crypto exchanges on the island. Crypto exchange Bittrex Global received the green light from Bermuda’s financial watchdog to run its operations under the supervision of local authorities.According to the official announcement, the company got a full “Class F Digital Assets Business Act” license from the Bermuda Monetary Authority, or BMA, which will allow them to offer crypto services such as futures, subject to further approval by the watchdog.Bermuda's positive regulatory stance towards crypto comes within the context of the Digital Assets....
Agentic Group, a global consortium of the blockchain companies has entered into a partnership with the Government of Bermuda to offer training on blockchain and digital currencies while fostering the digital currency ecosystem. Agentic Group, an elite global consortium of the global blockchain, cryptocurrency, and related companies has entered into a partnership with the Government of Bermuda to offer training on blockchain and digital currencies while fostering the digital currency ecosystem in British Overseas Territory of Bermuda. The New York-based Agentic Group, as a part of the....
R3 brought its blockchain research to Bermuda to demonstrate how distributed ledger technology could transform the way the island nation and the businesses incorporated there operate. Brokers, insurers, reinsurers and financial services organizations heard Tim Grant, chief executive officer of R3 Lab and Research Centre, and consultant Todd Bault, speak about distributed ledgers at the ILS Bermuda Convergence conference in early November, according to The Royal Gazette. R3 gave a real-time demonstration of blockchain technology, as well. “We had brokers, underwriters, Bank of New York....