ICO regulations in Bermuda

On March 19^th, 2018, the Minister of Finance of Bermuda announced the publication of a bill to regulate the Initial Coin Offering (ICOs).

In accordance with the proposed bill, ICO will be considered as limited entrepreneurial activity, requiring the consent of the Minister of Finance. In order to obtain such consent, it is necessary to provide information on the ICO operator, the main characteristics of the underlying digital assets offered through the ICO, the target amount, information on how customer data will be collected and stored, as well as information on how to track and verify ICO transactions.

Using this technology will ensure the attraction of new companies and investments, additional government revenues and new employment opportunities in Bermuda.

On materials of the following website: https://www.gov.bm/articles/initial-coin-offerings-bermuda