Bermuda Promotes Digital Asset Framework to US Regulators
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
Bermuda promoted its digital-assets regulatory framework to US market regulators, including the Securities and Exchange Commission and the Commodity Futures Trading Commission. Premier David Burt led a delegation that briefed the agencies on Bermuda’s Digital Asset Business Act and initiatives concerning tokenization and stablecoins. These meetings took place after the US Senate failed to advance the Digital Asset Market Clarity Act.
From royalgazette.com
Why it matters
The promotion of Bermuda's regulatory framework occurred as US agencies began taking on the immediate task of rulemaking for the digital asset sector. Bermuda offered its support to US agencies as they proceeded with this regulatory work.
Bermuda is currently modernizing its competition legislation.
From royalgazette.com
Who's involved
- BermudaBritish overseas territory promoting its digital-assets regulatory framework
- CoinbaseAmerican company encouraged to expand under Bermuda's new legislation
- BlackRockAmerican multinational investment management corporation encouraged to expand under Bermuda's new legislation
- RippleCreator and developer of the Ripple payment protocol encouraged to expand under Bermuda's new legislation
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- CoinbaseSpeculative
Coinbase could see increased demand for its services if it expands under the favorable digital-assets legislation.
- BlackRockSpeculative
BlackRock could increase its investment capacity if it expands under the favorable digital-assets legislation.
- RippleSpeculative
Ripple might see increased revenue from its payment protocol if it expands under the favorable digital-assets legislation.
Keep exploring
The entities involved
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Coinbase
American company that operates a cryptocurrency exchange platform
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Bermuda
British overseas territory in the North Atlantic Ocean
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BlackRock
American multinational investment management corporation
Related events
- The Meyer Group of Companies reaffirmed its long-term commitment to Bermuda.
- Bermuda is pursuing a housing strategy aimed at expanding the available housing stock.
- The government governs the territory of Bermuda.
- Apex Group was established in Bermuda, and David Burt highlighted the region's role in financial services at a Zurich event.
- Qapture Investments, a Bermuda-based firm, has begun offering services to eligible U.S. clients.