Bermuda Financial News

09.02 / 19:59

Government Law the bahamas New Hampshire could become an alternative for crypto firms moving to the Bahamas

New Hampshire is on the verge of becoming a national leader in cryptocurrency if its legislature follows through on recommendations made by a commission appointed by Governor Chris Sununu. The recommendations would establish a legal framework for blockchain and crypto businesses in the state, providing clarity and certainty to entrepreneurs and regulators while avoiding the onerous and largely pointless special rules federal regulators and members of Congress want to impose on the industry. The proposed rules would also protect consumers, depositors and investors.

25.01 / 12:03

business Law regulation Bitcoin Cash Genesis sues Roger Ver for $20M over unsettled crypto options trades

Bitcoin Cash (BCH) advocate Roger Ver has sued by a unit of crypto lending firm Genesis over unsettled crypto options amounting to $20.8 million.

20.12 / 11:47

business Blockchain Court Bitcoin BlockFi files motion to return frozen crypto to wallet users

Bankrupt crypto lending platform BlockFi has filed a motion requesting authority from a United States bankruptcy court to allow its users to withdraw digital assets currently locked up in BlockFi wallets.

19.12 / 10:03

FTX Insurers Keep Away From FTX-Linked Crypto Firms As Contagion Risk Rises

FTX: Exclusions may act as a failsafe for insurers. (File)

19.12 / 09:15

cryptocurrency FTX crypto firms Bitcoin Insurers shun FTX-linked crypto firms as contagion risk mounts

Insurers are denying or limiting coverage to clients with exposure to bankrupt crypto exchange FTX, leaving digital currency traders and exchanges uninsured for any losses from hacks, theft or lawsuits, several market participants said.

16.12 / 00:43

business Stablecoin Polygon Backed Jewel Bank, Polygon to launch Bermuda's first USD-backed stablecoin

Institutions in Bermuda will soon be able to trade real-time settlements using a stablecoin with a 1:1 peg to the United States dollar, Jewel Bank founder and chairman Chance Barnett told Cointelegraph.

28.11 / 19:01

business Blockchain defi Bankruptcy BlockFi files for bankruptcy, as many expected, cites FTX collapse for its troubles

BlockFi announced on Nov. 28 that it has filed for Chapter 11 bankruptcy. The filing in the United States Bankruptcy Court for the District of New Jersey pertains to the company and its eight subsidiaries. The move comes after several days of speculation on the company’s financial health after the collapse of FTX.

12.10 / 15:39

Platform Bittrex Bittrex Crypto Exchange Fined for US Sanction Evasion

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed a fine of about $24 million on crypto exchange Bittrex which also had to sign a $29 million settlement with the department’s Financial Crimes Enforcement Network (FinCEN). The fines are related to the exchange’s violations of anti-money laundering regulations and sanctions on the residents of certain countries and territories.

01.10 / 19:57

SEC Pump-and-dump PUMP This latest pump-and-dump scheme left SEC, OSC to file fraud charges

The U.S. Securities and Exchange Commission (SEC) and the Ontario Securities Commission (OSC) filed parallel charges against two organizations.

09.08 / 09:19

cryptocurrency crypto news cryptos New Guilty Plea In BitMEX Crypto Exchange Laundering Case

New guilty plea in BitMEX crypto exchange laundering case

11.07 / 10:47

business Technology Uber Leak Grab Uber Files: Leak reveals how Uber 'lobbied leaders and duped police' to grab new markets

As Uber aggressively pushed into markets around the world, the ride-hailing service lobbied top political leaders including France's Emmanuel Macron to relax labour and taxi laws, according to a global media investigation into thousands of leaked files.

30.06 / 13:57

business Binance regulation Binance to assist Cambodia in developing crypto regulations

Crypto exchange Binance has signed a memorandum of understanding (MoU) with the Securities and Exchange Regulator of Cambodia (SERC), according to a June 30 announcement.

22.06 / 10:07

Credit Suisse seeks way out of $607m Bermuda court award

Credit Suisse's Bermuda life insurance unit said a loophole in Bermuda company law means it shouldn’t have to pay a billionaire client a $607m court award.

06.06 / 14:07

UPS Provident Digital Bermuda is now the latest to set up crypto-hub plans

Bermuda is the most recent jurisdiction to express a desire to be at the forefront of cryptocurrency legislation. It is presently planning to create a comprehensive and extensive crypto-regulatory framework.

06.06 / 07:07

Government Adoption regulation Bermuda confirms crypto hub ambitions despite market downturn

The Bermuda government is pushing on with its ambitious plans to become a cryptocurrency hub despite the massive market downturn in 2022.

11.04 / 18:01

cryptocurrency security Virtual Insurer and German Giant Munich Re Team Up to Offer Digital Asset Insurance

Hong Kong-based virtual insurer OneDegree has entered into a three-year strategic partnership with German reinsurer Munich Re to launch OneInfinity, a new digital asset insurance product.

30.03 / 21:41

fraud case Credit Suisse ruled liable in fraud case in Bermuda

A Bermuda court said Credit Suisse must pay billionaire Bidzina Ivanishvili about $555m for allowing a private banker to steal from the former Georgia prime minister and mismanage his money.

30.03 / 09:33

fraud case Credit Suisse ruled liable in fraud case in Bermuda

A Bermuda court said Credit Suisse must pay billionaire Bidzina Ivanishvili about $555m for allowing a private banker to steal from the former Georgia prime minister and mismanage his money.

24.03 / 23:33

Credit Suisse flags potential $500m hit from legal claim in Bermuda

Credit Suisse Group AG is expected to pay around $500m after losing a lawsuit brought by a Georgian billionaire who claimed the bank mismanaged his money.

24.03 / 11:05

Credit Suisse flags potential $500m hit from legal claim in Bermuda

Credit Suisse Group said late on 23 March that a court in Bermuda is expected to publish a judgment against its local life-insurance subsidiary, Credit Suisse Life Bermuda, which could potentially be more than $500m.

03.02 / 23:14

COST UPS Provident Going abroad? Your destination may require travel insurance

Are you planning a trip abroad? You may need to buy travel insurance to visit your destination country.

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