Regulatory Alerts2024-05-17
Added · Updated
Digital Assets and Registered Exchanges Bill, 2024
The Securities Commission of The Bahamas is authorized to administer and regulate the issuance, sale, and trade of digital assets, replacing the 2020 Act. The legislation mandates registration for digital asset businesses, including exchanges, custodians, and staking providers, while prohibiting unregistered operations and mining activities. It establishes specific compliance requirements for token offerings, stablecoin issuers, and purchasers' rights, alongside strict anti-money laundering measures and enforcement powers for the Commission.