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Bahamas headquartered crypto exchange filed for bankruptcy in November last year.
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The abrupt fall of such a significantly valued entity raised questions on the country’s regulations along with FTX’s internal management.
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With the proposed crypto regulations, the Bahamas looks to avoid similar mishaps in the future.
The collapse of once a leading crypto exchange, FTX, came as a shock and learning for many. The Bahamas is also included in the list of those who took the lessons after the fiasco. Recently the country is reported to seek tougher crypto regulations in order to avoid the FTX collapse-like incidents.
In a Tuesday, April 25 press release, the Securities Commission of the Bahamas (SCB) noted the publication of the Digital Assets and Registered Exchanges (DARE) Bill 2023. The commission put the bill which seeks the expansion of “definition and the list of digital asset business activities” for consultation.
The DA
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