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Bahamas will ‘fight’ EU, OECD on digital assets
The Bahamas will likely have “to fight” the European Union (EU) and Organisation for Economic Co-Operation and Development (OECD) to preserve its digital assets leadership, the Opposition’s leader warned yesterday.
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‘Creatures of evolution’: Digital firm to top $130m
A Bahamian digital payments provider yesterday predicted it will this year “top” the $130m worth of transactions it settled in 2021, and said of this shift: “This is not going to be the norm; it is the norm.”
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FTX attorney: Be ‘thrilled’ at digital asset feedback
A former Cabinet minister yesterday said the private sector “should be thrilled that the Government has institutionalised” how it will be consulted on the future evolution of the digital assets industry.
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‘Foolhardy’ if BISX to neglect digital assets
The Bahamas International Securities Exchange (BISX) is “actively pursuing opportunities” in digital assets, its chief executive disclosed yesterday, adding: “We’d be foolhardy to do otherwise.”
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Come to Bahamas, PM tells digital asset firms
The Prime Minister yesterday urged digital asset firms to consider establishing a physical presence in The Bahamas while hailing the “transformative” impact the sector will have for all industries and the wider economy.
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FTX and SALT will jointly present a new event, Crypto Bahamas, that will debut this week from April 26-29 at the Baha Mar resort in Nassau. The invitation-only event will feature collaboration and networking among leading investors and builders in the digital assets industry.
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Shed tax haven label for digital assets win
The Bahamas will lose its position as a digital assets leader and the potential economic “upswing” if it fails to shed its ‘tax haven’ label, a Bahamian financial services provider warned yesterday.
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DEREK SMITH: Compliance pitfalls to avoid
REMOTE-first digital communication is expected to continue growing at an astounding rate year. In addition, due to the pandemic, society is increasingly reliant on connected infrastructure and digital services for the day-to-day functioning of its daily operations, which means that using digital services to interact has now become the norm.
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DPM pledges ‘innovative’ digital assets approvals
The deputy prime minister yesterday pledged that the Government’s revamped investment promotion and approvals agency will be “transparent” and “innovative” in how it handles applications from digital assets providers.
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AG: Digital Bill meets obligations under law
ATTORNEY General Ryan Pinder said yesterday the Digital Assets and Registered Exchanges Bill 2022 fulfils both local and international obligations, while seeking to strengthen the economic regime that will bolster the middle class of the country.
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Digital assets are no ‘silver bullet’ to rescue economy
A Cabinet minister and a member of the Government’s Digital Advisory Panel have both warned that digital assets are not a “silver bullet” that will rescue the Bahamian economy by themselves.
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Sand Dollar circulation trebles
The Bahamas’s digital currency, the Sand Dollar, nearly trebled in circulation in 2020.
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DEREK SMITH: ‘Digital transformation’ - The second part is key
Every company has been forced to reinvent itself, or re-evaluate how it does business, due to a digital evolution that some might call a revolution. Large companies have invested substantial resources in what is usually referred to as “digital transformation”. However, a problem occurs when they undertake a digital transformation plan without a clearly defined vision of what this should entail.
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‘Be ready for international attacks over digital role’
A financial analyst warns that international “attacks” on the financial services sector should be expected as the country’s involvement in the digital assets and cryptocurrencies business develops.
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Digital assets ‘shot in the arm’ sparks accountants to reunite
The Bahamas’ entry into the digital assets space sparked two well-known accountants to speed up their reunion after a decade apart by merging their two firms with effect from yesterday.
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GOING GLOBAL: PM hails potential of crypto industry for The Bahamas
PRIME Minister Philip “Brave” Davis said the arrival and presence of FTX underscores the “readiness of The Bahamas to be a home for global leaders in the crypto space.”
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Investment protection focus for digital assets regulation
The Securities Commission’s top executive has foreshadowed the roll-out of more digital asset regulations as it begins focusing on “investment protection” in the cryptocurrency space.
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Digital assets industry 'a major opportunity' for the Bahamas
PRESS Secretary Clint Watson said the government is working with key stakeholders to ensure that Bahamians can benefit from the digital assets industry.
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Traditional finance providers have ‘duty’ to embrace crypto
Deltec Bank & Trust’s chairman yesterday asserted that traditional financial services providers have a “duty” to help innovators in the digital assets and crypto currency space.
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Groundbreaking ceremony for FTX headquarters
PRIME Minister Philip “Brave” Davis said FTX Digital Markets’ groundbreaking for its headquarters sent a strong message that The Bahamas is a safe place for international companies to set up shop.
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