Bermuda, a global financial services center that operates the largest reinsurance market in the world, is aggressively targeting the FinTech sector. Bermuda's objective is clear: to establish the Island as the jurisdiction-of-choice for FinTech entrepreneurs and its new regulatory framework as the universal standard for initial coin offerings, digital assets and virtual currencies. This Stroock Special Bulletin analyzes Bermuda's new innovative legislation, in particular the Initial Coin Offering Act and the Digital Asset Business Act, and forecasts the road ahead for Bermuda's FinTech initiative.
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