Bermuda

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Institutionalize crypto markets now: There must be compliance controls

Institutionalize crypto markets now: There must be compliance controls

Digital asset markets are subject to various regulations worldwide, but which are the most suitable for the crypto space at the moment? Thanks to regulatory uncertainty from the United States Securities and Exchange Commission and a hodgepodge of state licensing requirements, the development of crypto trading in the U.S. remains stuck in the backwaters of trading reserved for Over-the-Counter Bulletin Board issues. In order to ensure the continued and healthy growth of digital asset markets, it is critical to expand the market share of institutional crypto trading. That’s a better business model for digital asset markets, and it will force…

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Bittrex Global gets cleared to run crypto exchange from Bermuda

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 Business Act approved in 2018. This established the first legal…

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Bermuda grants Bittrex DABA license to commence local operations

Bermuda grants Bittrex DABA license to commence local operations

The island nation of Bermuda is in the news today after it gave U.S-based cryptocurrency exchange, Bittrex, a Class F (“Full’’) Digital Assets Business Act license that will allow the platform to operate under the supervision of the Bermuda Monetary Authority (BMA). According to Bittrex Global CEO Tom Albright, Bittrex (Bermuda) will provide additional digital asset services […] The post Bermuda grants Bittrex DABA license to commence local operations appeared first on AMBCrypto.

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Bermuda hopes to jumpstart their economy with new ‘stimulus token’

Bermuda hopes to jumpstart their economy with new ‘stimulus token’

The island continues to work toward full crypto adoption. The Government of Bermuda has announced their partnership with stablecoin platform, Stablehouse. Together they hope to roll out a pilot program for a digital “stimulus” token, targeting both residents and merchants within the islands. According to The Royal Gazette, the idea of launching such a program was accelerated by the COVID-19 pandemic. As part of the program, the government plans to enable the purchase of food and other products from retailers to strengthen its now-necessary array of contactless payment solutions. The Bermuda government will also distribute payments to those who qualify…

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