🇧🇲 Bermuda

Digital Asset Business (DAB) licence under the Digital Asset Business Act 2018 (DABA), with three tiers: Class T (Test/sandbox licence for early-stage/proof-of-concept businesses, time-limited ~3-12 months), Class M (Modified licence for limited-scope/lower-risk operations, a stepping stone to full authorization), and Class F (Full, unrestricted licence covering the complete range of digital asset business activities, issuance, exchange, custody, payment services, dealing as principal, etc., with no expiry, subject to ongoing supervision).

Verified 2 days agoSource: BMA: https://www.bma.bm/digital-asset-business; Cryptoverse Lawyers: https://www.cryptoverselawyers.io/bermuda-digital-asset-business-licence-guide/

Bermuda Monetary Authority (BMA)

Verified 2 days agoSource: BMA: https://www.bma.bm/digital-asset-business

In January 2026, at the WEF Annual Meeting in Davos, the Government of Bermuda announced a partnership with Circle and Coinbase (and Stellar) to build what it describes as the world's first 'fully onchain' national economy, including plans for a sovereign Bermuda digital dollar. The BMA has begun real-world pilots, airdropping USDC to residents, enabling payments at a pop-up marketplace, and preparing to accept digital assets for government fees. Bermuda also hosts regulated derivatives operations tied to major exchanges including Coinbase and Kraken. The BMA's 2025 annual report shows licensed digital asset businesses rose to 49 by end of 2025 (up from 36 a year earlier). The DABA Code of Practice was also updated in 2024 with more detailed marketing/promotion and governance requirements. Bitcoin Suisse (International) Ltd was granted a Class F digital asset business licence with Class B investment business registration, reported 13 May 2026, pre-operational pending standard conditions. On tokenisation, the BMA issued a stakeholder letter on 30 March 2026 and a consultation paper on 9 April 2026 (feedback to 30 June 2026); on 21 July 2026 it opened a further consultation on letting certain insurers, ILS structures and investment funds use fully fiat-backed stablecoins for subscriptions, treasury and premium or claims payments (comments to 30 September 2026).

Verified 16 days agoSource: Royal Gazette, BMA licenses Bitcoin Suisse unit (13 May 2026): https://www.royalgazette.com/international-business/business/article/20260513/bma-licenses-bitcoin-suisse-unit/ ; Royal Gazette, BMA stablecoin-use consultation (21 Jul 2026): https://www.royalgazette.com/reinsurance/business/article/20260721/bma-launches-consultation-on-use-of-stablecoins/ ; The Block: https://www.theblock.co/post/386159/bermuda-coinbase-circle-onchain-economy; Circle press room: https://www.circle.com/pressroom/the-government-of-bermuda-announces-plans-to-be-the-worlds-first-fully-onchain-national-economy-with-support-from-circle-and-coinbase; Royal Gazette: https://www.royalgazette.com/local-business/business/article/20260626/bma-report-digital-assets-expand-revenue-up/