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Crypto Companies Are Turning to Bermuda as US Eyes Crackdown (1)

May 11, 2022, 4:16 PM

As crypto companies face growing scrutiny from policymakers in the US, they are increasingly turning to friendlier and less bureaucratic jurisdictions like Bermuda to grow their businesses and test new products.

The self-governing British territory was one of the first places to establish a regulatory framework for digital assets -- a puzzle that large countries like the US still haven’t solved. The island has the ability to be more nimble because it has a single regulator, compared to the many agencies that have input over crypto oversight in the US.

This, plus the fact that the local officials have embraced ...