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House: blockchain regulations imminent

David Burt, the Premier (File photograph by Blaire Simmons)

The Bermuda Government is preparing regulations over blockchain technology, David Burt announced today.

The Premier told the House of Assembly a draft bill will be introduced for the regulation of initial coin offerings associated with the cryptocurrency technology.

He said that while governments around the world were wrestling with the implications of digital currencies, Bermuda had the potential to lead in the financial technology world

He said the island could not afford to “stand in the shadows and watch this pass us by”.