Bahamas securities watchdog presents comprehensive new draft digital assets act

1. Regulation: The article talks about regulatory measures presented by the Bahamas' Securities Commission in relation to digital assets. The proposed Digital Assets and Registered Exchanges Bill will subject cryptocurrency trading to the same regulations as securities,and will require virtual asset service providers to obtain a license from the Commission. This will ensure that the market is transparent and compliant with recognized international standards. 2. Investor Protection: The proposed bill's main aim is to protect investors' interests by providing a secure environment for digital asset trading. It aims to address issues such as fraudulent ICOs,money laundering and terrorist financing through effective regulatory governance. The bill will require exchanges to disclose all critical information to their clients,including fees,terms and conditions,and risk factors. Additionally,the bill will provide clear guidelines for investor protection against digital asset theft,loss of private keys,and other cyber attacks. 3. Digital Asset Market Development: The proposed bill focuses on promoting the development of the digital asset market by providing a clear regulatory framework. This includes a specific definition of digital assets as well as clear guidelines for their issue,distribution,trading,and management. By doing so,the bill aims to boost innovation and foster new financial products and services related to digital assets in a structured and secure manner. Overall,the proposed bill represents a significant step towards establishing the Bahamas as a leading jurisdiction in the digital asset market while also providing a secure and regulatory environment for investors.

source https://titdoi.com/news/Bahamas-securities-watchdog-presents-comprehensive-new-draft-digital-assets-act