NASSAU, The Bahamas–(BUSINESS WIRE)–The Securities Commission of The Bahamas (the Commission) today published the Digital Assets and Registered Exchanges (DARE) Bill, 2023 for consultation. The DARE Bill 2023 expands the definition and list of digital asset business activities and includes robust consumer and investor protection, risk management, and market innovation and development provisions. The Bill strengthens financial and reporting requirements for digital asset businesses and requirements related to: 1) custody and custodial wallet services; 2) operating a digital asset exchange; 3) providing advice on and management of digital assets; 4) provision of staking services; and 5) a comprehensive approach to the regulation of stablecoins. The Bill aims to become effective in The Bahamas by the end of Q2 2023.
“I am pleased to present for consultation the Digital Asset and Registered Exchanges Bill 2023, which will modernize and strengthen requirements for conducting digita
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