The Bahamas Prime Minister Philip Davis advised Cointelegraph that the area has a regulatory regime in place that may allow crypto companies to function inside its jurisdiction. Throughout an interview at SALT’s Crypto Bahamas convention, Davis shared that The Bahamas lately printed a white paper framework that may enable crypto companies to “develop and prosper,” whereas letting corporations perceive the area’s expectations. He added:

“The coverage additionally takes under 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 decrease all dangers which may 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, whichmoved 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, advised Cointelegraph that he expects the Bahamas to “grow to be a crypto-centric area that might be identified in 5 years as probably the most forward-thinking and financial visionary international locations.”

With regard to this, Davis additional commented that he hopes the Sand Greenback — the digital iteration of the Bahamian Greenback and a totally operational retail central financial institution Grayscale GVTC and ETHE digital foreign money — might be leveraged internationally.

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