Bermuda
Proposed Bank Jewel Wants to Become a Global Stablecoin Issuer, With Bermuda’s OK
The bank submitted an application for a combined banking and digital asset license earlier this year.
BitMEX’s First Employee Agrees to Be Extradited to US to Face Money Laundering Charges
Gregory Dwyer, BitMEX’s first employee, has consented to be sent to the U.S., pending Bermuda’s approval.
Is the Crypto Market Still Bullish?
Philippe Bekhazi of XBTO Group, provides an update on the crypto markets, including whether recent dips in BTC prices indicate a reversal of the bull market, the impact of CBDCs on the crypto market and a developing program in Bermuda to create a stablecoin-based stimulus package.
Bermuda to Pilot Digital Dollar for Rum Sales
The pilot is the latest development in Bermuda’s plan to create a comprehensive crypto payments system.
Nasdaq, SEC-Registered Fund Manager to Launch First-Ever Crypto ETF in Bermuda
The new ETF product will track an index currently being designed by Nasdaq that will provide broad exposure to the digital asset market.
Proposed Bermuda Bank Taps Anchorage as Digital Asset Custody Partner
Under the partnership, Anchorage will provide crypto custody services to Jewel, which is applying for its full bank license in Bermuda.
Government of Bermuda Pilots Stimulus Token in Response to COVID-19 Crisis
Bermuda is looking to speed up the distribution of financial aid to its citizens and has begun trialing a digital stimulus token.
Bermuda Is Planning a Comprehensive Crypto Ecosystem
In what must have been a drastic change for Denis Pitcher, Chief Fintech Advisor to the Premier of Bermuda, he and Coindesk’s Michael Casey took to the chilly streets of Davos to talk about his government’s steps to enable Blockchain adoption in the small island nation. “In the summer of 2018, we launched a comprehensive regulatory framework to provide clarity and leverage,,” said Pitcher. “We introduced a principle-based framework that allowed us to define more of a scope around a business plan as opposed to specific activities. That allows you to have the flexibility to focus on managing risks of what's new in this space.” Pitcher hopes to create a system that allows Bermudians to spend the digital currency they receive on government services and, in so doing, build a bridge to overseas economies... “By allowing the government to accept it, it provides an opportunity for merchants to start saying, ‘Well, I can look at accepting digital dollars,’” he said. “So taxi operators, tourism operators, commercial businesses have a place to actually spend, which means that you're not going to have to fall back to the traditional financial system.” Pitcher hopes these systems will finally introduce ordinary Bahamians into the global financial ecosystem. “Our history allows us to really understand financial services,” he said. “But the challenge that comes from this is that when it comes to access to financial services, Bermudians are largely excluded. We don't have access to PayPal, Revolut, or Square and in order to actually get access to the Apple App Store we buy credit or gift cards.” “We’re too small,” he said. “Nobody cares about 60,000 people.” With a digital currency plan, however, Pitcher believes the Bahamas will become more than just a financial product supplier and will, eventually, turn into a financial powerhouse of its own.
Bermuda Is Planning a Comprehensive Crypto Ecosystem
Denis Pitcher, chief fintech advisor to the Premier of Bermuda, talks about the island nation's blockchain plans.
