The ability to provide a banking solution enables Bermuda to continue to promote growth and expansion of the digital asset sector and solidifies its position as a choice jurisdiction for technology companies.

In 2018 Bermuda introduced progressive legislation and regulation that led the way in setting global standards for the governance and regulation of the digital asset sector, which includes initial coin and token offerings.  Since then, the Bermuda Government has been working to ensure that a full service eco-system is available to support and service anyone looking to establish their digital asset business in Bermuda.

Globally, a major issue faced by those in the digital asset sector has been the availability of traditional banking services, a problem that is understood to have derived from concerns that the digital asset sector may not be capable of meeting global compliance standards. Bermuda’s legal and regulatory framework has integrated such compliance requirements into the laws governing this sector which now gives investors and service providers confidence in the intention and ability of Bermuda companies in the digital asset sector to comply.

If you or your clients wish to learn more about Bermuda’s digital asset legislative and regulatory framework and how Appleby can assist with the licensing application process, please engage with your usual Appleby contact or any member of the team below.

Share
Twitter LinkedIn Email Save as PDF
More Publications
1 Sep 2021 |

Changes to rules on Permanent Residency Certificates

The Ministry of Labour has recently issued a policy paper, ‘Securing Permanency for Long-Term Resi...

26 Aug 2021 |

What to remember when an employee leaves

Just as when a new recruit is on-boarded, there are a variety of tasks an employer needs to deal wit...

23 Aug 2021 |

BMA seeks more seamless marketplace with ILS process enhancements

Recent changes made by the Bermuda Monetary Authority (BMA) to improve processes specific for catast...

17 Aug 2021 |

ILS Bermuda Executive Roundtable 2021

Despite the impacts of the Covid-19 pandemic and subsequent restrictions on travel and face-to-face ...

13 Aug 2021 |

A digital asset future: closer than we think

Most of us at some point in our lives have participated in a rewards programme either at our favouri...

26 Jul 2021 |

What not to forget when an employee leaves

There are many practical and ‘housekeeping’ matters that employers need to deal with when an emp...

Contributors: Jordan Knight
23 Jul 2021 |

Contributed surplus: it’s not capital!

Last week, in part one, we discussed the meaning of share premium, the various ways a company may us...

16 Jul 2021 |

Share premium: do you have it?

When the issuance of shares by a company is discussed, the first thought that comes to mind is the s...

2 Jul 2021 |

No question you’ll see more life reinsurers in Bermuda

While the emergence of property and casualty (P&C) startups in Bermuda is likely to be muted in ...

2 Jul 2021 |

Bermuda: An introduction to Dispute Resolution

This edition discusses Current Economic Conditions and Dispute Resolution Activity, Trends & Dev...

Contributors: Jordan Knight