The Bahamas has enacted the Digital Assets and Registered Exchanges (DARE) 2024 Act to regulate cryptocurrency following the FTX collapse.
The new law mandates investor protection, Know Your Customer (KYC) procedures, and stringent information disclosure and financial reporting standards.
For the first time, it introduces a disclosure regime for staking digital assets and covers advisory, management, and derivative trading services.
Stablecoin issuance is regulated, with a ban on algorithmic stablecoins. These measures aim to enhance market stability and protect investors.
The DARE 2024 Act positions The Bahamas as a leader in comprehensive crypto regulation.
