Will the Bahamas become a crypto Haven?

Not just sun, sand and sea: the Bahamas is charting a course to become the new crypto haven. "We have the vision to transform the Bahamas into the leading digital asset hub in the Caribbean," said Bahamian Prime Minister Philip Davis, opening up the Crypto Bahamas conference in the nation’s capital, Nassau.

What is the Bahamian crypto law?

Passed by the Bahamian parliament in December 2020 and enforced by its securities commission, the law provided a framework for the regulation of cryptocurrencies, exchanges, wallet services and ICOs. The country’s willingness to commit to crypto and provide a legal sandbox for companies like FTX was central to its appeal.

What brought Bankman-fried to the Bahamas?

Part of what brought Bankman-Fried to the Bahamas last September was a sweeping crypto law called the Digital Assets and Registered Exchanges (DARE) Act.

Did FTX steal $3.5 billion from Bahamian crypto exchange?

The Securities Commission of The Bahamas says it seized $3.5 billion worth of cryptocurrency from collapsed crypto exchange FTX. In a media release late Thursday, the watchdog confirmed the total sum taken from FTX’s Bahamian subsidiary, FTX Digital Markets, and added that the funds were moved into its own digital wallets “for safekeeping.”