The Bahamas Prime Minister Philip Davis informed Cointelegraph that the area has a regulatory regime in place that can allow crypto companies to function inside its jurisdiction. Throughout an interview at SALT’s Crypto Bahamas conference, Davis shared that The Bahamas not too long ago revealed a white paper framework that can enable crypto companies to “develop and prosper,” whereas letting corporations perceive the area’s expectations. He added:

“The coverage additionally takes into consideration the steadiness between considerations folks have about cryptocurrency and the dangers that come together with it. [The] coverage is to guard customers, [the] integrity of the house and at [the] similar time, make sure that we reduce all dangers that could be related to these companies.”

Davis identified that crypto innovation is already properly underway in The Bahamas with the institution of FTX, Sam Bankman-Fried’s cryptocurrency alternate, which moved its headquarters from Hong Kong to The Bahamas in September 2021. Its anticipated that extra crypto corporations will do the identical. 

Anthony Scaramucci, the founding father of the hedge fund SkyBridge Capital, informed Cointelegraph that he expects the Bahamas to “grow to be a crypto-centric area that will probably be recognized in 5 years as probably the most forward-thinking and financial visionary international locations.”

With reference to this, Davis additional commented that he hopes the Sand Greenback — the digital iteration of the Bahamian Greenback and a totally operational retail central bank Grayscale GVTC and ETHE digital currency — will probably be leveraged internationally.

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