Bermuda is betting that its transparent digital-asset regulations will attract more cryptocurrency businesses. The island has a comprehensive framework regulating cryptocurrency. More than $1 trillion in digital money has disappeared since November, the WSJ reports. Some crypto companies say regulatory uncertainty creates a barrier in many places where it’s hard to regulate the currency. The Wall Street Journal reports that the island is doubling down on its understanding of international business and a trained workforce to continue developing its digital-assets industry in the future.
Source: https://www.theblockcrypto.com/linked/150163/bermuda-persists-in-developing-digital-asset-industry-in-spite-of-downturn-wsj-says