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Bermuda rolls out the red carpet for crypto after the banks refuse to play ball.

Discussion in 'General Discussion' started by solarguy, Jul 4, 2018.

  1. solarguy

    solarguy Active Member

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    "Bermuda continues its push to become a global hub for blockchain and fintech innovation, having recently announced plans to change its banking laws to create a class of banks catering to blockchain and fintech companies, according to Finextra. The amendment to the country’s Banking Act follows the recent passage of a Digital Asset Business Act and an initial coin offering (ICO) bill.

    Local Banks Unresponsive To Fintech
    David Burt (he is the Premier and the Finance Minister with an IT background) said banks’ reluctance to serve the new types of companies cannot be allowed to impede the country’s efforts to support economic growth. "

    https://www.ccn.com/bermuda-amends-banking-act-to-favor-blockchain-startups/

    Let's crunch the math here. We're averaging 1 or 2 countries a week that are tweaking their legal structure to better accommodate/attract the new crypto economy. That means in 18-24 months, the vast majority of countries will be actively encouraging and accepting crypto. Regulatory arbitrage just never lets up. Which country is next???

    The adoption curve should hit the "hockey stick" when between 30 to 35% of countries have actively said YES to crypto. Again, back of the napkin math puts that at 6-8 months from today. So, somewhere between Christmas and Spring break, things should get real exciting around here. Mark My Words! (inside joke from DashNation discord).
     
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