In Bermuda crypto moneys regulation, people are referring to

In a newly released advisory document Thursday, the Caribbean fiscal regulator said it was aiming to attract a wide range of cryptographic money-related activities to the country in order to prepare a more formal framework to encourage cryptographic currency trading.

Regulations for ICOs will be addressed in a separate draft law

The new law mandates that businesses that promote and facilitate sales and first currency offers (ICO) as well as virtual currency, cryptographic money exchange, wallet services and payment providers must collect and maintain customer information. In particular, the regulation on ICO organizers is not part of the draft law. Instead, it is stated that regulations for ICOs will be addressed in a separate draft law.

Regulations do not mean to ban the cryptographic money industry in Bermuda

In this way, government officials stress that the new regulations do not mean to ban the cryptographic money industry in Bermuda. Rather, the new regulations are aimed at developing a comprehensive framework that will provide a safer and more stable environment for businesses in cryptographic currency.

"We can not reach people who want to come to Bermuda."

According to a report published Thursday, Bermuda's National Security Minister Wayne Caines believes that the cryptographic monetary sector needs to be multifaceted before it flourishes. Wayne Caines made the following statement about the subject:

We can not reach people who want to come to Bermuda. We go to London this weekend and there are 20 companies that want to meet us. This is truly extraordinary.

In fact, in view of the public, the BMA is investigating a sandbox-like licensing scheme that will provide block-chaining initiatives that promise the market in a regulated environment.