The Bahamas has enacted the DARE Act 2024, a major update to its cryptocurrency regulations, announced on July 31. This law, building on the DARE Act 2020, aims to enhance investor protection and foster innovation in the digital asset sector.
Key features include broader supervision of digital asset activities, stricter requirements for exchanges, and a unique framework for staking. Christina Rolle, Executive Director of the Securities Commission, emphasized its role in robust risk management.
Simultaneously, FTX Digital Markets Ltd. has initiated a liquidation election process, allowing customers to choose between Bahamian and U.S. proceedings, with a deadline of August 16.
