Bermuda Tech Update: Amendment to the 2018 Code of Practice

Appleby Bermuda Shorts | Tech Talks S01 E12If you are a digital asset company, tech investor or nascent entrepreneur, consider Bermuda for your digital assets licence to get your tech business or platform off the ground.Bermuda is fast becoming the hub for well-regulated digital asset companies, thanks to its forward-leaning government and the introduction of Bermuda’s Digital Assets Business Act (DABA), effective regulation and a business ecosystem comprised of digital asset experts.In our latest episode, Partner Jerome Wilson and Associate Carl Meyer provide a quick high-level update on recent changes to the 2018 Code of Practice and the impact on existing and new applicants in the market. They discuss the increased emphasis on consumer protection and how registrants will need to be more end-user focused. Jerome and Carl also share that some insights on existing policies, including for cyber risk management, will need updating – while other policies will need to be introduced.Be sure to also listen to Episode 2 where they discuss all things DABA, including the different types of licences available, how Bermuda’s regulator guides the application process (including testing new products before hitting the market) and why the Bermuda licence model works in today’s tech world.Click here to view our ‘Tech Talks’ podcasts and be sure to connect with Jerome and Carl if you are interested in establishing or conducting a digital assets business in Bermuda.About ApplebyAppleby is one of the world’s leading international law firms. Our global teams of legal specialists advise public and private companies, financial institutions and private individuals. We are a full service law firm providing comprehensive, expert advice and services across corporate, dispute resolution, property, regulatory, and private client and trusts practice areas. We have offices in ten highly regarded, well-regulated global locations, operating in nine and practising the laws of eight jurisdictions. Our office locations include the key international jurisdictions of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Isle of Man, Jersey, Mauritius, and the Seychelles, as well as the international financial centres of Hong Kong and Shanghai...