Bermuda’s first digital asset compliance boot camp will bring together regulators, lawyers and industry practitioners this week as the island continues to expand its digital asset sector.

ComplianceX, a one-day event being held at Bermuda College on Friday, is being organised by the Association of Bermuda Compliance Officers and Y Partners and is aimed at compliance professionals working with Digital Asset Business Act-regulated firms.

According to organisers, the event is designed to help compliance officers develop the specialist skills needed to support digital asset businesses operating within Bermuda’s regulatory framework. Sessions will cover topics including licensing, governance, risk management, regulatory oversight and compliance obligations under DABA.

The programme will feature speakers from the Bermuda Monetary Authority, Walkers, Carey Olsen, Circle International Bermuda, Appleby and other industry participants.

Luis Goncalves, senior analyst for AML/ATF supervision at the BMA, is scheduled to discuss how digital asset regulation differs from traditional financial services regulation, including the authority's expectations for compliance officers and preparations for Bermuda's next Caribbean Financial Action Task Force evaluation.

Other sessions will examine the licensing and growth of DABA-regulated companies, the regulatory perimeter for digital asset activities, governance and cybersecurity risks and compliance challenges associated with emerging technologies like artificial intelligence and smart contracts.

Appleby's Jarion Richardson, regulatory, governance and compliance advisory lead in Bermuda, will lead a session titled “The Audit, The Incident and The Enforcement Action”, focusing on regulatory inspections, compliance incidents, sanctions compliance, suspicious activity reporting and lessons from digital asset failures.

He said: “Bermuda continues to position itself at the forefront of digital asset innovation, with a real opportunity to help lead the transformation of financial services in a thoughtful, credible and commercially meaningful way.

“Innovation moves fastest when it is grounded in trust, governance and sound judgment, making a deep understanding of the sector’s technology, risks and regulatory expectations essential for compliance professionals as it evolves.”

Mr Richardson is a certified anti-money laundering specialist and advises clients across the digital asset, insurance and financial services sectors. His recent work has included developing compliance frameworks for digital asset business licensees, digital life insurers and cryptocurrency exchanges.