12 chapters with 52 sections
Bermuda has created a comprehensive regulatory framework for digital assets, with the Digital Asset Business Act 2018 (DABA) serving as the cornerstone of its regulations. The Bermuda Monetary Authority (BMA) is the sole regulator for digital asset activities, overseeing businesses such as exchanges, custodians, and wallet providers. The DABA establishes clear categories for digital assets, classifying them based on their function, and outlines specific compliance requirements to ensure both financial stability and consumer protection. Bermuda’s regulatory approach aims to strike a balance between fostering innovation in the digital asset sector and maintaining strong oversight. By aligning its framework with international standards, Bermuda seeks to attract digital asset businesses while mitigating risks associated with fraud, money laundering, and financial instability. This robust regulatory environment is designed to ensure that Bermuda remains a leading jurisdiction for digital asset businesses, providing a secure and well-regulated space for growth and innovation.
