CryptoMediaClub
Monday, July 28, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Bitcoin

Securities Commission of the Bahamas Puts Forth Stringent Crypto Regulations

26.04.2023
A A
0
131
VIEWS
ShareShare

Securities Commission of the Bahamas Puts Forth Stringent Crypto Regulations

  • By the end of Q2, the SCB hopes to have pushed the measures in the DARE Bill into law.
  • The SCB of the Bahamas has enacted a blanket prohibition on algorithmic stablecoins.

The Securities Commission of the Bahamas (SCB) has instituted stringent new regulations for Virtual Assets Service Providers (VASPs) seeking to operate within its jurisdiction as a means of demonstrating that it has learned from the demise of the FTX Derivatives Exchange.

The SCB claims it has raised financial and reporting requirements for exchanges, custodians, staking operators, and asset managers above what is required by its current regulations.

The SCB has stated, in the form of a footnote to the Digital Assets and Registered Exchanges (DARE) Bill that it plans to increase its monitoring and evaluation of cryptocurrency companies and align its standards with those of other advanced jurisdictions such as the European Union, Hong Kong, and the United States.

Blanket Ban on Algorithmic Stablecoins

The SCB is adopting a firm stance, where it will compel exchanges to have sufficient systems and controls that are reflective of their development. After the FTX Exchange failed, many in the sector questioned the SCB’s ability to effectively oversee the crypto sector.

The depegging of Terraform Labs’ TerraUSD (UST) stablecoin around this time last year was the first domino in a chain reaction that eventually brought down the whole digital currency ecosystem. Many crypto firms filed for bankruptcy as a result of the domino effect caused by these collapses.

The SCB of the Bahamas has enacted a blanket prohibition on algorithmic stablecoins to prevent their use by businesses in the country.

The SCB has announced that comments on the proposed guidelines will be accepted until the end of May. Also, by the end of the second quarter, the SCB hopes to have pushed the measures in the DARE Bill into law.

Share10Tweet6ShareSharePin2

Related Posts

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge
Bitcoin

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge

15.07.2025
0

BitcoinWorldCoinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge The cryptocurrency world is buzzing with excitement, and for good reason!...

Read moreDetails
Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

14.07.2025
Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

14.07.2025
Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

14.07.2025
Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

08.07.2025
Load More
Next Post
CertiK to launch compensation plan for $2M Merlin DEX exploit

CertiK to launch compensation plan for $2M Merlin DEX exploit

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

U.S. Senators Release Anti-CBDC Bill

U.S. Senators Release Anti-CBDC Bill

1 year ago
IMF Renews Call for El Salvador to Reform Bitcoin Policies and Regulatory Controls

IMF Renews Call for El Salvador to Reform Bitcoin Policies and Regulatory Controls

10 months ago
Bitcoin’s Supply Crunch: Catalyst for Exponential Price Growth

Bitcoin’s Supply Crunch: Catalyst for Exponential Price Growth

2 years ago
A Crypto Exchange & a Russian: Third and Fifth Largest BTC Holders

A Crypto Exchange & a Russian: Third and Fifth Largest BTC Holders

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Metaplanet Buys 780 More Bitcoin, Total Now Over 17,000 BTC

South Korean Crypto Exchanges Paid Customers $87M in Interest in Past Year

Tyler Winklevoss Says JPMorgan Halted Gemini Onboarding Over Public Criticism

Ripple’s Chris Larsen Still Holds 2.58B XRP, Analyst Warns of Potential Sell Pressure

Solana Price Prediction: SOL Breaks Key Resistance – What This Means for Future Gains

Bitwise CIO Bets on Bitcoin Rally in 2026, Defying 4-Year Cycle

Trending

Senate Democrats Question Housing Agency Over Crypto in Mortgage Plans
All news

Senate Democrats Question Housing Agency Over Crypto in Mortgage Plans

28.07.2025
0

A group of Senate Democrats is demanding answers from the head of the Federal Housing Finance Agency...

ASIC Warns Australians Against Bitget’s “Unlicensed” Crypto Futures Offerings

ASIC Warns Australians Against Bitget’s “Unlicensed” Crypto Futures Offerings

28.07.2025
Crypto Lender Divine Uses Iris-Scanning World ID to Disburse 30,000 Unsecured Loans

Crypto Lender Divine Uses Iris-Scanning World ID to Disburse 30,000 Unsecured Loans

28.07.2025
Metaplanet Buys 780 More Bitcoin, Total Now Over 17,000 BTC

Metaplanet Buys 780 More Bitcoin, Total Now Over 17,000 BTC

28.07.2025
South Korean Crypto Exchanges Paid Customers $87M in Interest in Past Year

South Korean Crypto Exchanges Paid Customers $87M in Interest in Past Year

28.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz