Rigid crypto regulation is chosen by the Bahamas. The authorities are developing a regulatory framework for the blockchain industry. The decision to strengthen control over the digital currency market was made after the collapse of the FTX exchange.
The Bahamas is on the list of states that have successfully implemented the CBDC project. The island nation has been working on the launch of a national digital currency over the past few years. In parallel, the authorities want to legalize the stablecoin market and mining.
The regulatory framework will be as rigid as possible, and a licensing mechanism will be introduced for each crypto company.
Cristina Rolle, who heads the Securities Commission (SCB), promises that the legislation will be cutting edge. It aims to ensure the safety of investors and the transparency of transactions with digital assets.