Why did Stablehouse choose to get regulated in Bermuda?

Stablehouse, together with 13 leading crypto companies such as Circle, Bittrex Global, XBTO, and Apex Group, have chosen to get licensed in Bermuda as it provides a clear regulatory framework under its Digital Assets Business Act ("DABA Act" 2018). DABA builds on Bermuda’s decades-long reputation as a progressive yet reputable legislation that gave birth to the reinsurance market 50 years ago.

Additionally, as a member of the Financial Action Task Force (FATF), the inter-governmental body that sets the international standards to prevent money laundering and terrorist financing around the globe (including the United States and all other G20 nations), Bermuda enforces a globally-recognized anti-money laundering and anti-terrorist financing compliance requirements. 

Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request