TagBermuda

Circle Expands to Bermuda, Praises Pro-Crypto Island Government

jeremy allaire, circle

Circle announced today that it will be expanding its regulated services to Bermuda, using its new position in the island nation to service its global audience. Circle cited Bermuda’s pro-crypto regulatory environment as a primary motivation for expanding to the island nation. According to the announcement: “While many governments around the world have not kept pace with the regulatory...

QuadrigaCX Crypto Scandal Would've Never Happened in Bermuda, Says Country's Leader

QuadrigaCX, Bitcoin

Premier David Burt, the leader of the island nation of Bermuda, has boasted that the current situation that embattled Canadian crypto exchange QuadrigaCX finds itself would have been prevented if the exchange’s crypto keys had been kept in his country. Speaking in an interview with Fortune’s Balancing the Ledger segment on March 25, Premier Burt argued that such a situation would have been...

A New York Bank is Opening Accounts for Bermuda's Crypto Startups

Bitcoin, Bermuda, Signature Bank, New York

Cryptocurrency startups in Bermuda can now open bank accounts in New York. In a press release published Thursday, the Government of Bermuda announced that it is partnering with New York-based Signature Bank. Per the release, the deal will allow the island nation's FinTech companies to access US banking services. #BREAKING: #SignatureBank will bank Bermuda’s #FinTech firms. The NY based commercial...

Exclusive: Bermuda to Announce Launch of a Crypto-Friendly Bank Next Week

By CCN.com: It looks like the skies will be much clearer for the crypto and blockchain community in Bermuda soon. A bank that will accept blockchain and crypto companies appears to be just around the horizon. Bermuda Premier David Burt made the announcement during a one on one interview with BBC journalist Priya Patel at the Consensys Lounge, today. This was one of the many events at the World...

Bermuda Issues Draft Cryptocurrency Custody Rules

The financial services regulator of Bermuda, the Bermuda Monetary Authority (BMA), is inviting comments on a draft Code of Practice for Digital Asset Custody that it has released. The purpose of the code of practice is to offer protection to the public while clarifying the expectations of the authority with regards to digital assets custody. The financial services regulator has set January 18...

Bermuda Amends Banking Act to Favor Blockchain Startups

bermuda

Bermuda continues its push to become a global hub for blockchain and fintech innovation, having recently announced plans to change its banking laws to create a class of banks catering to blockchain and fintech companies, according to Finextra. The amendment to the country’s Banking Act follows the recent passage of a Digital Asset Business Act and an initial coin offering (ICO) bill. Local Banks...

Cryptocurrency Exchange Binance Inks $15 Million Investment Pact with Bermuda

bermuda

Reports have confirmed that Bermuda’s Premier and Minister of Finance, David Burt has signed a memorandum of understanding (MOU) with Binance Group, the operator of the world's largest cryptocurrency exchange. During a trip to Bermuda, Binance founder and CEO Changpeng Zhao met with David Burt to sign an MOU that will see the Binance Foundation provide up to $10 million of university training in...

Bermuda Outlines Cryptocurrency Regulations to Attract Entrepreneurs

Bermuda is moving forward on virtual currency legislation as it seeks to attract fintech entrepreneurs, the country’s Minister of National Security noted during an overview of its proposed fintech regulatory framework at the Bermuda Underwater Exploration Institute, according to the Royal Gazette. The minister, Wayne Caines, gave the presentation to a standing-room-only audience. Next month, the...

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