Bahamas – DIGIT INFO

Global Surge in CBDC Development: 134 Countries Now Exploring Digital Currencies

DIGIT — Thu, 19 Sep 2024 02:30:27 +0000

New data shows that 134 countries, representing 98% of global GDP, are now exploring central bank digital currencies (CBDCs), with 66 nations advancing to pilot or development stages. Every G20 nation is engaged in CBDC efforts, with notable leaders such as China and the European nations pushing forward. The U.S. remains lagging behind Europe and […]

Go to Source

Bahamas Enacts Digital Assets and Registered Exchanges Act

DIGIT — Fri, 02 Aug 2024 08:30:28 +0000

The Bahamas has enacted the Digital Assets and Registered Exchanges Act, 2024 (DARE 2024), establishing itself as a leader in digital asset regulation. Announced by the Securities Commission, DARE 2024 builds on the DARE Act, 2020, introducing significant reforms to address the evolving digital asset landscape. Christina Rolle, Executive Director of the Securities Commission, emphasized […]

Go to Source

Bahamians didn’t want CBDCs — So now they’re being forced to use them

DIGIT — Thu, 11 Jul 2024 19:37:03 +0000

Regulators in the Bahamas are sick of their citizens’ reluctance to adopt a CBDC, so they’re forcing commercial banks to get on board.

Go to Source

Bahamas to Mandate Banks to Distribute Central Bank Digital Currency

DIGIT — Wed, 03 Jul 2024 04:29:36 +0000

The Bahamas, the first country to issue a central bank digital currency (CBDC) called the Sand Dollar, is preparing regulations to mandate commercial banks to provide access to the e-money to boost adoption. Central Bank Governor John Rolle indicated that these regulations would be implemented within two years. “We’ve begun to signal that to our […]

Go to Source

Bahamas wants to force banks to support its ‘Sand dollar’ CBDC

DIGIT — Tue, 02 Jul 2024 04:49:14 +0000

The Bahamas was one of the first countries in the world to launch a central bank digital currency — the “Sand Dollar” in 2020 — and is now looking for ways to boost its adoption.

Go to Source

Former FTX exec Ryan Salame to give up $5.9M Bahamas property

DIGIT — Fri, 03 May 2024 03:07:48 +0000

Salame proposes to satisfy the debtors by transferring a residence he owns to FTX Digital Markets Ltd.

Go to Source

FTX Founder Bankman-Fried Seeks Dismissal of Charges Filed After Extradition

DIGIT — Tue, 09 May 2023 13:49:57 +0000

Former CEO of crypto exchange FTX, Sam Bankman-Fried, has asked a judge in the U.S. to dismiss several charges against him filed after his extradition from the Bahamas. His lawyers insist that prosecutors have not obtained consent from Bahamian authorities for the additional counts. FTX’s Sam Bankman-Fried Urges Court to Drop Post-Extradition Charges Attorneys representing […]

Go to Source

Where crypto can grow: Digital asset regulations around the world

DIGIT — Fri, 28 Apr 2023 14:01:00 +0000

While many countries have sped up their efforts to regulate cryptocurrencies following a crisis-filled 2022, most still lack a clear framework for the industry to build around.

Go to Source

Former FTX Director Pleads Guilty to Charges of Fraud, Money Laundering, and US Campaign Finance Violations

DIGIT — Tue, 28 Feb 2023 19:36:50 +0000

Roughly 11 days ago, it was reported that Nishad Singh, the former director of engineering at FTX, was working with federal prosecutors to arrange a plea deal. On Tuesday, Singh pleaded guilty to criminal charges and stated, “I am unbelievably sorry for my role in all of this.” Singh Cooperating With Authorities in FTX Investigation; […]

Go to Source

FTX lawyers: Examiner could cost $100M and ‘provide no benefit’

DIGIT — Thu, 26 Jan 2023 05:19:47 +0000

FTX lawyers, joint provisional liquidators of FTX.US and the Bahamas and a committee of creditors have all opposed the appointment of an independent examiner.

Go to Source