The purpose of this Memo is to generally set out the
requirements of Bermuda's ICO legislation as at the date hereof
and does not speak to any future date. It has been drafted to cover
the requirements applicable to companies in Bermuda, although there
are similar provisions for limited liability companies (LLCs).
Relevant Legislation
Bermuda launched the world's most progressive ICO
legislation in 2018 in the form of the Companies and Limited
Liability Company (Initial Coin Offering) Amendment Act 2018
which revised the Companies Act 1981 and the Limited
Liability Company Act, respectively, and came into effect on 9
July, 2018; as well as the Companies (Initial Coin Offering)
Regulations 2018 and Limited Liability Company (Initial Coin
Offering) Regulations 2018 which came into effect on 10 July,
2018 (together the 'ICO Legislation').
