Bahamas Enacts Comprehensive Crypto Law to Prevent Future Collapses

The Digital Assets and Registered Exchanges Act 2024 introduces stringent regulations on custody, staking, and stablecoins.

DARE 2024 mandates separation of customer assets from business funds to prevent misuse.
New disclosure regime for staking services requires detailed information on staking processes and risks.
Stablecoin framework includes a ban on algorithmic stablecoins and mandates reserve asset reporting.
Expanded regulation now covers advisory services, digital asset derivatives, and management services.
Enhanced investor and consumer protection measures are introduced for digital asset exchanges.