Hashtag: #Cryptocurrency
SEC: Unikrn To Pay $6.1 Million Penalty
The U.S. Securities and Exchange Commission announced charges against Unikrn Inc “for conducting an unregistered initial coin offering [ICO] of digital asset securities” and said that Unikrn “agreed to settle the charges by paying a $6.1 million penalty.” A statement from the SEC said, “The Securities and Exchange Commission... Read more of this article
Stablehouse Test Pilots Digital Stimulus Token
Stablehouse have commenced a “test pilot program for a digital stimulus token,” the company said. A spokesperson said, “Stablehouse, a pioneering payment and FX exchange platform for stablecoins, and the Government of Bermuda have commenced a test pilot program for a digital stimulus token. The goal of the pilot is to explore and demonstrate... Read more of this article
BMA Grants Class 3A Insurer Licence To Evertas
Evertas, a cryptoasset insurance company announced that is has received its license from the Bermuda Monetary Authority to start operating as a ‘Class 3A’ insurer. A spokesperson said, “Evertas, one of the world’s first cryptoasset insurance companies, has received its licence from the Bermuda Monetary Authority to start operating from... Read more of this article
Column: The Fintech Flexibility Of Bermuda
[Opinion column written by Chris Garrod] After less than two years, the island’s core digital asset laws are being amended. Bermuda’s new Digital Asset Issuance Act 2020, which became effective on May 6th, 2020, comes soon after the introduction in 2018 of two fundamental pieces of Fintech legislation. First, we had what is commonly called Bermuda’s... Read more of this article
New Insurer For Crypto, Cannabis Businesses
Premier David Burt announced that Relm, an insurer that specializes in emerging business categories, has been granted a license by the Bermuda Monetary Authority [BMA]. A Government spokesperson said, “The new business, which is led by CEO Joe Ziolkowski and Operations Vice President Keyla Roman, is owned by Deltec International Group, a Bahamas-headquartered... Read more of this article
Bermuda Hosts Financial Technology Summit
Bermuda this week hosted a two-day summit [January 29-30] on financial technology which included Mr. Arjoon Suddhoo, the Commonwealth Deputy Secretary-General, as well as representatives from central banks in the Americas and Europe. “This was a small, private, invitation only conference of approximately 20 attendees, funded entirely by the Commonwealth... Read more of this article
Officials To Meet In Bermuda To Discuss FinTech
Leading fin-tech experts and central bank officials from Africa, the Americas, Asia, and Europe will attend a meeting in Bermuda on January 29 and January 30 to discuss financial technology [FinTech]. According to TheCommonwealth.org website, “Central bank officials will meet in Bermuda next week to agree on a framework that can help build robust... Read more of this article
“World’s First Captive To Insure Crypto Custody”
Premier David Burt announced that Gemini Trust Company, LLC — a cryptocurrency exchange and custodian — has launched Nakamoto, Ltd. a captive insurance company licensed by the Bermuda Monetary Authority [BMA] to insure Gemini Custody. “Nakamoto — the world’s first captive to insure crypto custody — allows Gemini Custody to increase... Read more of this article
Premier: Govt To Accept Some Digital Currency
Premier David Burt announced that the Bermuda Government has “committed to accept, for payment of government taxes, fees and services, 1:1 US dollar backed digital currencies that get licensed by the Bermuda Monetary Authority.” The Premier made the announcement today during the Bermuda Tech Summit, at the Hamilton Princess & Beach Club,... Read more of this article
Crypto Firm Circle Engages Oyster Consulting
Circle, an global crypto financial services company, engaged Oyster Consulting [Bermuda], to help guide them through a successful application process for the Class F license, and to provide compliance services for the future. “In June 2019 Circle became first full-service crypto finance company with a trading desk, stable coin and exchange to... Read more of this article
XBTO International Receive Digital Asset License
Premier David Burt announced that the Bermuda Monetary Authority [BMA] has granted a license under the Digital Asset Business Act to XBTO International Ltd. [Bermuda] [XBTOI], a licensee of XBTO Group, one of the most active global crypto investors. XBTOI marks only the third firm to be granted this type of license in Bermuda. “Present in Bermuda... Read more of this article
Video: Diamond Standard On Fox Business
Cormac Kinney, Diamond Standard’s founder and CEO, recently appeared on Fox Business’ ‘Countdown to the Closing Bell’ as he detailed how his company created a blockchain-based token backed by real diamonds, called Bitcarbon Technologies. A spokesperson previously said, “Diamond Standard Co. is founding member of the Diamond Standard... Read more of this article
Premier: FinTech Education Initiative Update
Premier David Burt provided an update on the FinTech Business Unit’s Education initiative in the House of Assembly today [June 7], saying that hundreds of people have, or are, taking part in the offering. “Technology companies are domiciling in jurisdictions that have a high incidence of talent with technical skills,” the Premier said.... Read more of this article
Govt: ‘Will Focus On Making Strides In Fintech’
The Government “will continue to focus on making strides in the Fintech space” and “will not be deterred by the Opposition’s myopic focus on one of the many tech companies that have incorporated in Bermuda,” the Government said. The Government also added that “there is no Memorandum of Understanding with Arbitrade, and... Read more of this article
VLT Releases Testnet For Compliant Platform
Velocity Ledger Technology today released its “testnet and blockchain network API” which is said ”allows the community to develop applications to integrate with the network for the issuance, trading and settlement of digital asset tokens. “The VLT platform is a compliant platform for issuing, trading and settlement of digital... Read more of this article
IoD To Hold Digital Asset Workshop On June 3
People are being invited to attend a presentation by leading Fintech lawyer Natalie Neto on Bermuda’s digital assets, legal and regulatory framework. Ms Neto, a partner in the corporate funds and finance practice at Walkers Bermuda law firm, will give the talk, titled ‘Corporate Governance Requirements for Digital Assets Businesses, on June 3 at... Read more of this article
