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.
Copies of the Statement of Principles and Code of Practice, as well as
additional forms relating to the Digital Asset Business can be found in the Document Centre under Policy & Guidance/DAB.