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|The Bahamas got a score of 4.90 out of 5 to top the Solidus Labs Global Crypto Regulation Index.
Solidus Labs said The Bahamas received the high rating “because it provides a comprehensive and progressive regulatory regime, clear registration requirements and a positive environment set by government action and rhetoric to foster economic growth through a robust digital asset industry.”
In December 2020, the Bahamian government enacted the Digital Assets and Registered Exchanges Act (DARE) to establish a legal and regulatory framework for digital assets, licensing, investor protection standards. It also complies with anti-money laundering recommendations made by the Financial Action Task Force (FATF).
The country received a perfect score in the Legal Status, Regulatory Framework, Registration Requirements and Market Surveillance and Anti-Market Manipulation
categories. In the Anti-Money Laundering/Anti-Terrorism Financing category, The Bahamas received a rating of four out of five.
Bermuda was a close second receiving a score 4.75 out of five.
Solidus Labs noted Bermuda is one of a select number of countries that has enacted a comprehensive regulatory framework for digital assets.
Rounding out the top five ranked countries were Malta, Switzerland and Serbia.
The Cayman Islands was the only other country on the list and placed at number 10.
Solidus Labs said it gave the Cayman Islands its rating of 4.20 out of 10 because it did not have sufficient policies in place to combat money laundering and terrorism financing. (Caribbean Loop)