The Bahamas Securities Commission finishes public discussion of the bill on digital assets regulation and cryptocurrency exchanges activity.
The commission examined laws in cryptocurrency sphere, which work in neighbor countries, and presented its own bill. It envisages digital assets sales regulation and also management of crypto representatives or mediators` behavior – bitcoindoubler2x.com has found out.
“The bill clarifies, who and with what capital level can participate in cryptocurrency activity. As well, what reporting are demanded, and what penalties are provided for non-compliance with established rules. Besides, the bill stresses that participants of cryptocurrency activity must observe precautions, allowing to avoid loss of personal data and client’s assets on an exchange”, – Executive Director of the Commission Christina Rolle told.
“As legislators we understand that cryptocurrency space is focused on the participation of the branch`s representatives. That`s why we call the public to discuss this bill”.
The bill was presented for public discussion March 27. Comments are accepted for consideration till May 28. After this date, the document will be handed over to the government of the Bahamas and then to the Parliament. According to the Rolle, if the bill`s discussion and consideration hold as it’s expected, the legislative framework will be composed this autumn already.