Bermuda gathers team for Blockchain study

The government of Bermuda has founded a blockchain task group to promote cryptocurrency commerce in the British overseas territory
24 November 2017   1668

Announced during a press conference, the task force has been established to advance Bermuda's regulatory environment for tokens, "tokenised securities," cryptocurrencies and initial coin offerings (ICOs).

There are significant opportunities in the sphere of cryptocurrency, but that window is getting smaller and moving faster than ever before.

 

John Narroway

Chair of the Blockchain Business Development Working Group

The task force constitutes two groups: the Blockchain Legal and Regulatory Working Group, and the Blockchain Business Development Working Group – which will work to assist development of the technology.

The move aims to bring new business to the island, help boost GDP and open up more job opportunities.

Furthermore, the Bermuda Business Development Agency (BDA) has entered into a partnership with the government to expand the initiative.

It is also planned to design a regulatory framework for distributed ledger technologies (DLT) that would launch in early 2018. According to David Burt, Bermuda is considering a complementary regulatory framework covering the promotion and sale of utility tokens, aligned with the DLT framework.

Binance to Spread Crypto Fiat Wings

The list of upcoming jurisdictions was found by the Block
18 January 2019   62

The Block has gained access to the list of jurisdictions in which the largest cryptocurrency exchange Binance intends to launch fiat trading platforms. The latter use technology Binance, but will be separate legal entities.

Alleged Binance New Operation Jurisdictions
Alleged Binance New Operation Jurisdictions

In 2019, the exchange allegedly intends to launch full-scale activities in Malta and in Singapore. At the same time, South Korea, Liechtenstein, Russia, Turkey and Argentina are in the plans.

Note that in October last year, such a platform appeared in Uganda, and just a few days ago - on the island of Jersey.