DIGITAL ASSET BUSINESS

Statement of Principles & Code of Practice

This Code of Practice (the Code) is made pursuant to section 6 of the Digital Asset Business Act 2018 (the Act). Section 6 requires the Bermuda Monetary Authority (the Authority) to publish in such manner as it thinks fit a Code that provides guidance on the duties, requirements, procedures, standards and sound principles to be observed by persons carrying on Digital Asset Business (DAB). Failure to comply with provisions set out in the Code will be a factor taken into account by the Authority in determining whether a licensed DAB is meeting its obligation to conduct its business in a sound and prudent manner.

The Code should be read in conjunction with the DAB Statement of Principles issued under section 5 of the Act.