House to debate financial tech business today

  • Premier and Minister of Finance: David Burt

    Premier and Minister of Finance: David Burt

The next round of legislation to develop a financial technology business in Bermuda is to be tabled today in the House of Assembly.

David Burt, the Premier, said the Digital Asset Business Act 2018 was “an exciting, landmark achievement”.

He added a team made up of people from both the private and public sector, as well as staff from the Bermuda Monetary Authority will enable the BMA to regulate and protect digital asset business.

Mr Burt said: “In February’s Budget statement, this Government promised the people of Bermuda that it would be more than transactional.

“We promised to be transformational as we expand and grow this economy for the benefit of all Bermudians. This legislation lays the foundation for growth in an area that Bermuda can and will lead.”

The Bill will be debated at a later session of the House of Assembly.

Also up for discussion today are retirement benefits for government workers, as the Public Service Superannuation Amendment Act 2018 goes before MPs.

A proposal for the amalgamation of departments for the library service and the Bermuda Archives will also be up for discussion. MPs will also hear a report from Walton Brown, the Minister of Home Affairs, on the Nekton Mission I, XL Catlin Deep Ocean Survey, which uncovered new species in the ocean off Bermuda.

Diallo Rabain, the education minister, will give an update on the 2018 to 2022 strategic plan for the island’s public schools.

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Published May 11, 2018 at 8:00 am (Updated May 11, 2018 at 3:06 am)

House to debate financial tech business today

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