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ARTICLE · 18 OCTOBER 2024

Bermuda Monetary Authority Initiates Consultation On Proposed Changes To Bermuda's Digital Asset Business Regime

Carey Olsen
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The Bermuda Monetary Authority (the "BMA") has issued a consultation paper outlining proposed amendments to the Digital Asset Business Act 2018 (the "Act") and the Digital Asset Business (Prudential Standards)...

BermudaTechnology
Steven Rees Davies
Steven Rees Davies
Charissa Ball
Charissa Ball
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The Bermuda Monetary Authority (the "BMA") has issued a consultation paper outlining proposed amendments to the Digital Asset Business Act 2018 (the "Act") and the Digital Asset Business (Prudential Standards) (Annual Return) Rules 2018 (the "Rules") inviting the digital asset business sector and other stakeholders to share their views on the proposals by 9th December 2024 using the following link: Consultation - Proposed Amendments to the Digital Asset Business Act 2018 and the Digital Asset Business (Prudential Standards) (Annual Return) Rules 2018 Survey.

The proposed amendments aim to enhance the BMA's administrative, rule-making and enforcement powers, refine definitions used in the Act and amend annual reporting requirements.

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