Cryptocurrencies have soared in popularity, there are now more than 1,000 in existence with an aggregate value greater than the market capitalisation of IBM.
The task of creating a regulatory framework for DLT enterprises to set up and operate in or from Bermuda will be directed by Wayne Caines, Minister of National Security, who has taken on responsibility for government’s ICT Policy and Innovation.
Japanese authorities are taking a more active stance, granting licenses to 11 exchange operators in September, including Quoine.
In its work with R3, RBI will focus on cash and payment services, capital markets, digital identity, securities services and trade finance.
The first tranche became liquid immediately after the vote on November 6, 2017, at which point one-fourth of each member’s tokens became transferable.