Bermuda's Digital Asset Business Act 2018 is one of the world's first comprehensive statutory licensing frameworks for digital-asset businesses. It creates licence classes and a statutory perimeter for digital-asset business, provides BMA supervision with prudential, governance and conduct requirements, and works with later regulations, codes of practice and amendments under the Bermuda Monetary Authority.
Overview
Key Details
Jurisdiction
BermudaRegulator
Bermuda Monetary Authority (BMA)
Law Type
Act
Status
In ForceOfficial Title
Digital Asset Business Act 2018
Enacted Date
June 28, 2018
Effective Date
September 10, 2018
Topics Covered
Who This Law Applies To
Entities carrying on digital-asset business in or from Bermuda, unless specifically exempt from the Act.
Key Requirements
- Creates licence classes (Class F, M, I) and a statutory perimeter for digital-asset business in or from Bermuda.
- Provides BMA supervision, prudential, governance and conduct requirements for licensees.
- Works with digital-asset business regulations, codes of practice and subsequent amendments.
Official Sources
Official instrument pageDigital Assets Supervision and Regulation — BMAOfficial announcement
Bermuda Monetary Authority
bma.bm
Use Bermuda Laws Online/consolidated statute as primary source. BMA pages are secondary guidance.
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