Bahamas Parliament Passes New Crypto Law 1.5 Years After FTX Collapse
Wednesday, 31 July 2024, 12:36
Bahamas' Legislative Update on Cryptocurrency
In a remarkable development, The Bahamas' Parliament has passed the Digital Assets and Registered Exchanges Act, 2024 (DARE 2024), signifying a robust step towards regulating the cryptocurrency landscape.
Key Features of DARE 2024
- New Regulatory Framework: Established to oversee digital assets and registered exchanges.
- Enhanced Security Measures: Aimed at protecting investors in the wake of global market shifts.
- Confidence Rebuilding: The legislation seeks to restore trust after the FTX collapse.
Conclusion
The introduction of DARE 2024 marks a pivotal moment for the Bahamas as it strives to emerge as a leader in the cryptocurrency space, ensuring a safer investment environment and economic stability.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.