Digital Assets In Bermuda

There's been discussion among trust professionals about the potential impact that digital assets will have on trusts and the trustees that administer them. Here are some of the key themes that have arisen during those discussions. Some themes include whether a trustee has the power to hold digital assets, whether any bespoke provisions need to be included in trust documentation and whether any regulatory changes are required. Let's consider whether the existing trust licensing regime and fiduciary duties of a trustee that exist in Bermuda are sufficient or if there's cause to suggest changes may need to be made to properly support what's being promoted as a new economic pillar for the island.