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Highlights

• Bermuda is a low-tax jurisdiction, and does not levy specific taxes on income, capital gains, or other taxes related to digital assets or transactions involving them.
• In 2018, Bermuda introduced two pieces of legislation that regulate licensing and other requirements for businesses handling digital assets and ICOs: the Digital Asset Business Act (DAB Act) and the Companies and Limited Liability Company (Initial Coin Offering) Amendment Act 2018 (ICO Act).
• Under the DAB Act, licensed businesses holding custody of client digital assets must segregate those client assets from the business’s own accounts, as well as maintain either a surety bond, a trust account maintained by a qualified custodian, or sufficient insurance approved by the Bermuda Monetary Authority.

Virtual Currency-Specific Regulations

• Government of Bermuda,
• Bermuda Monetary Authority, (May 2019)
• Bermuda Monetary Authority, (Sept. 2018)
• Bermuda Monetary Authority, (Sept. 2018)
• Bermuda Monetary Authority, (Sept. 2018)
• Bermuda Monetary Authority, (Sept. 2018)

Nonprofit Regulations

• Government of Bermuda,
  • Government of Bermuda,

Tax Regulations

• Government of Bermuda,
• Government of Bermuda,

Anti-Money Laundering Regulations

• Government of Bermuda Ministry of Home Affairs, (March 2018)
• Government of Bermuda,
• Bermuda Monetary Authority, (Sept. 2018)

Other Relevant Regulations, Sources, Notes

• (amended up to Oct. 2 2019)
• Law Library of Congress, (April 2019)