Hashtag: #Cryptocurrency
Carey Olsen Advises XBTO Global On Acquisition
Carey Olsen’s fintech team in Bermuda has advised digital assets and tailored investment solutions group XBTO Global on its dual acquisition of Bermuda licensed digital asset businesses Stablehouse Ltd and XBTO International Ltd. A spokesperson said, “Stablehouse is a digital asset custody and trading platform that helps institutions mitigate... Read more of this article
Premier Burt Attends Annual Satoshi Roundtable
Premier and Minister of Finance David Burt is in Dubai attending the annual Satoshi Roundtable, a “gathering of top digital asset founders, leaders and executives.” A Government spokesperson said, “The Satoshi Roundtable is an invite-only event that has been running yearly since 2014. The Government receives invitations in recognition... Read more of this article
Minister Attends Fintech Conference In Barbados
Minister Jason Hayward attended the second Fintech Islands Experience 2024 [FIX 2024] held in Barbados from January 24th – 26th, 2024. A Government spokesperson said, “Widely attended by entrepreneurs, regulators, lawyers, policymakers, and financial services professionals from various jurisdictions, the conference featured over 125 speakers... Read more of this article
Bittrex Global To Cease Operations On Dec 4th
Cryptocurrency exchange Bittrex Global — which has an office in Bermuda – announced they have decided to cease operations, with all trading activity set to be disabled on Monday, December 4, 2023. A spokesperson said, “It is with great regret that we announce that Bittrex Global has decided to wind down its operations. This decision... Read more of this article
Binance Fined Billions By U.S. Authorities
Binance founder Changpeng Zhao has agreed to plead guilty and and pay a $50 million fine, and Binance itself also pleaded guilty and agreed to pay $4.3 billion in fines and restitution to the U.S. government. A New York Times story said, “Changpeng Zhao, the founder of Binance, the largest cryptocurrency exchange in the world, pleaded guilty... Read more of this article
Steven Davies Included In Top 50 Crypto Pros
Steven Rees Davies, a partner at Carey Olsen Bermuda, earned a spot in Citywealth’s Top 50 Crypto Professionals for 2023. A spokesperson said, “Carey Olsen Bermuda partner Steven Rees Davies is the only Bermuda professional to have been named amongst the Top 50 Crypto Professionals for 2023, as chosen by Citywealth. “The list showcases... Read more of this article
Roundtable Held On Digital Asset Technology
The Ministry of Economy and Labour, specifically the Economic Development Department [EDD], hosted the 2nd Fintech Roundtable of 2023, focusing on discussing strategies for innovation adoption, streamlined processes, and local talent integration in the field of financial technology [Fintech] and digital assets. A Government spokesperson said, “Through... Read more of this article
Carey Olsen Advises Mountain Protocol
Carey Olsen’s corporate team in Bermuda noted that they “successfully advised digital asset business Mountain Protocol on obtaining a digital asset business licence to conduct the business of issuing, selling, or redeeming virtual coins, tokens, or any other form of digital asset and providing custodial wallet services. A spokesperson said,... Read more of this article
Roundtable Held On Advancing FinTech
The Bermuda Government’s Economic Development Department [EDD] led a roundtable discussion on June 27th that brought together industry stakeholders and DABA-licensed companies. A spokesperson said, “This strategic dialogue marks a critical step in the ongoing evolution of Bermuda’s FinTech ecosystem, reinforcing the island’s... Read more of this article
OBA: Use ‘Greater Caution’ With Digital Assets
“It is absolutely crucial for the Premier and Minister of Finance, David Burt, to exercise greater caution when developing the digital asset industry,” Opposition Leader Cole Simons said. Mr. Simons said, “The U.S Security Exchange Commission [SEC] recently took action against Binance and their founder, Changpeng Zhao, filing 13 charges... Read more of this article
U.S. SEC Charges Binance & Coinbase
[Updated] The United States Securities and Exchange Commission [SEC] has filed charges against two of the most prominent crypto companies in the world, with today’s charges against Coinbase following after the charges it filed against Binance yesterday. Coinbase A statement from the SEC about the Coinbase matter said, “The Securities and... Read more of this article
STS Digital Receives Bermuda License
STS Digital Ltd, a provider of digital asset trading solutions, said they have “obtained a license to offer its services in Bermuda.” A spokesperson said, “The license enables STS Digital to provide digital services to institutional and high net worth clients in Bermuda and around the world. “The Class T Digital Assets Business... Read more of this article
Video: Premier Burt Interviewed At Consensus
Premier David Burt was interviewed by Coindesk at the Consensus 2023 event, where he discussed Bermuda’s regulatory approach, the collapse of Bahamas-registered FTX and more. The video’s description says, “Bermuda Premier David Burt joins ‘The Hash’ live from Consensus 2023 to discuss his reaction to the FTX collapse and... Read more of this article
Govt Thanks Denis Pitcher For Contributions
The Government advised of the “departure of Mr. Denis Pitcher,” who they said “has served as an unpaid consultant for the Economic Development Department.” A Government spokesperson said, “Mr. Pitcher played a pivotal role in establishing the Fintech Unit, driving the growth of Bermuda’s fintech ecosystem, mentoring Bermudians... Read more of this article
Coinbase Granted Digital Asset Licence
Coinbase Bermuda has obtained a license from the Bermuda Monetary Authority [BMA]. An update on the company’s website said, “Coinbase Bermuda Ltd. has obtained a Class F License under the Digital Asset Business Act from the Bermuda Monetary Authority [BMA]. Bermuda was one of the first financial centers to pass comprehensive digital assets... Read more of this article
Bittrex Closed US Operations On April 30
Bittrex has announced it closed down its US operations effective April 30, noting that “this announcement does not impact Bittrex Global, which will continue operations as normal for its customers outside the U.S.” Bittrex co-founder and CEO Richie Lai said, “As a direct result of continued regulatory uncertainty and a lack of interest... Read more of this article
