When it should be celebrating its international expansion, Coinbase is plagued by civil suits and insider trading allegations— adding up to its battle was a consecutive quarter of negative profits.
The recent implosions in the digital asset industry did not faze Bermuda, as it rallies VASPs to set up operations in the country and, at the same time, prepare to launch its first stablecoin.
Bermuda has launched a digital token to stimulate the local economy following the COVID-19 pandemic.
Circle's transition to Bermuda was made possible by the issuance of a Digital Assets Business Act (DABA) license issued to Poloniex from that country.
VHL Financial is currently in the application phase with the Bermuda Monetary Authority, and the goal is to operate a digital asset exchange in the country after the proper licenses are obtained.
One man from Toronto was looking to get a good price on his Bitcoin Core. Sadly, he did it at the worst time on the worst site.
Signature Bank has agreed to provide a full range of banking services to crypto and fintech startups, as well as already existing 66 businesses in the industry.
Getting things together before the end of 2018, the Bermuda Monetary Authority (BMA) was able to release (in pdf) draft legislation of its Code of Practice for Digital Asset Custody for rebiew.
The government of Bermuda is making amendments to its Banking Act, which will pave the way for a new class of banks that will cater fintech and blockchain companies in the British overseas territory.