The Bahamas DARE Act 2024 modernises and replaces the 2020 DARE framework, broadening the range of regulated digital-asset businesses and strengthening licensing, custody, market-abuse, disclosure and supervisory rules. Digital-asset businesses, exchanges and token issuers operating in or from The Bahamas are required to be registered with the Securities Commission of The Bahamas.
Acteffective
Digital Assets and Registered Exchanges Act, 2024 (DARE Act 2024)
Also known as: Digital Assets and Registered Exchanges Act, 2024
Bahamas Securities Commission of The Bahamas (SCB)
Overview
Key Details
Jurisdiction
BahamasRegulator
Securities Commission of The Bahamas (SCB)
Law Type
Act
Status
In ForceOfficial Title
Digital Assets and Registered Exchanges Act, 2024 (DARE Act 2024)
Effective Date
Effective date not specified
Topics Covered
Who This Law Applies To
Digital-asset businesses, exchanges and issuers operating in or from The Bahamas requiring registration with the Securities Commission of The Bahamas.
Key Requirements
- Replaces and modernises the 2020 DARE framework with a wider regulatory perimeter.
- Regulates digital-asset businesses, exchanges and token issuances including stablecoins.
- Strengthens licensing, custody, market-abuse prevention, disclosure and supervisory rules.
Official Sources
Official instrument pageVerify assent date and Gazette commencement. Obtain direct PDF link to Act text.
Related Laws
OtherIn ForceJurisdiction unavailable
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SBS Resolution No. 02648-2024 — AML/CFT Rules for VASPs
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Peru's SBS Resolution No. 02648-2024 applies AML/CFT risk-management and compliance duties to virtual asset service providers (PSAVs) supervised by UIF-Peru. It requires customer due diligence, recordkeeping and suspicious-transaction reporting. The resolution also contains a travel-rule chapter, but commencement of the travel rule has been deferred to 1 January 2029 through a later amendment — the travel rule is not currently effective.
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