Fintech 2023

Law and Practice

1. Fintech Market

1.1 Evolution of the Fintech Market

Since the announcement of its fintech strategy in November 2017, the Bermuda government has positioned Bermuda as a market-leading jurisdiction with respect to fintech, with a view to Bermuda operating as an innovation hub for businesses seeking to conduct operations utilising new technologies or to deploy new technologies to provide services and solutions for other business sectors.

The Bermuda government, along with Bermuda?s sole financial services regulator, the Bermuda Monetary Authority (BMA), have taken a collaborative approach and, with the assistance of technical advisers from other pioneering jurisdictions and participation across Bermuda?s private industry sectors, Bermuda has developed a robust and effective, fit-for-purpose legal and regulatory framework that offers certainty with respect to the regulatory status of digital assets issuances and digital assets business