Circle Supports Bermuda's Push to Become Onchain Jurisdiction
What happened
David Burt is leading a delegation to Washington to engage US financial regulators and digital asset businesses on behalf of Bermuda. The delegation is discussing US regulation and the use of digital assets in Bermuda’s insurance and reinsurance market. This visit occurs as the Government prepares legislation to allow the Government to accept and invest in digital assets.
From royalgazette.com
Why it matters
Bermuda aims to be the world’s first fully “onchain” national economy, an ambition supported by Circle and Coinbase. The delegation's meetings with US regulators, including the Commodity Futures Trading Commission and the US Securities and Exchange Commission, aim to solidify the territory's role as a digital asset hub.
From royalgazette.com
Who's involved
- CircleSupported Bermuda's ambition to become an onchain jurisdiction.
- BermudaIs seeking to expand the role of digital assets in its economy.
- David BurtIs leading the delegation to engage with US financial regulators.
- governmentIs preparing legislation to allow the Government to accept and invest in digital assets.
- CoinbaseSupported Bermuda's ambition to become an onchain economy.
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.
- BermudaSpeculative
Bermuda could see increased investment in the digital asset sector due to regulatory efforts.
- Hamilton Insurance GroupSpeculative
Hamilton Insurance Group might adjust its revenue streams by integrating digital assets into its insurance and reinsurance market.
- governmentSpeculative
The Government may see changes in its financial policy and regulatory framework related to digital asset investment.
Keep exploring
The entities involved
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Circle
peer-to-peer payments technology company
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Bermuda
British overseas territory in the North Atlantic Ocean