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ARTICLE · 06 MAY 2026

Re Bittrex – Asset Recovery And Insolvency Lessons For Crypto Exchanges

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There are currently 45 digital asset businesses operating in Bermuda with a license from the Bermudan Monetary Authority (the BMA).

BermudaFinance and Banking
Nikolas Ireland
Nikolas Ireland
Laura Bridgewater
Laura Bridgewater
Christopher Charlton
Christopher Charlton
Chris Akka
Chris Akka

There are currently 45 digital asset businesses operating in Bermuda with a license from the Bermudan Monetary Authority (the BMA). 

These businesses range from large exchanges, such as Coinbase, Kraken and CashApp, to a handful of smaller businesses. For these companies, the Bermudan Court of Appeal's decision handed down on 10 March 2026 inRe Bittrex Global (Bermuda) Ltd (in liquidation) [2026] CA (Bda) 1 Civ provides important guidance on how customer assets should be treated.

But Re Bittrex doesn’t just provide learnings for these 45 businesses. The judgment applies a number of English judgments and gives guidance from the Bermudan Court as to how exchanges operating worldwide should be run. 

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