$7.48 Billion


63.9 Thousand

GDP per capital

$117.1 Thousand

Bermuda (/bərˈmjuːdə/; historically known as the Bermudas or Somers Isles) is a British Overseas Territory in the North Atlantic Ocean. The Bermuda archipelago consists of 181 islands with a total land area of 54 square kilometres (21 sq mi). The closest land outside the territory is in the US state of North Carolina, approximately 1,035 km (643 mi) to the west-northwest.

Bermuda has a sub-tropical climate, with mild winters and warm summers. Prone to hurricanes,[5] its climate also exhibits oceanic features similar to other coastal areas in the Northern Hemisphere, with warm, moist air from the ocean ensuring relatively high humidity and stabilising temperature.

Bermuda is named after Spanish explorer Juan de Bermúdez, who discovered the archipelago in 1505. The islands have been permanently inhabited since 1612, and, forming part of British America, became a crown colony in 1684. The first African slaves arrived in 1616, but as the slave trade ceased by the end of the 17th century, the colony developed into a base for merchants, privateers, and the Royal Navy. More recently, tourism has been a significant contributor to Bermuda’s economy. After World War II the territory became a prominent offshore financial centre and tax haven.


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General adoption

Bermuda has been keen to embrace the potential offered by Crypto. The industry presents tremendous risk and require prudent regulation. Bermuda has, accordingly, led the way in introducing a regulatory framework for digital asset business and coin and token offerings.

Government View

The current Bermuda government was elected in 2017 having undertaken to create new economic pillars in Bermuda, identify new opportunities for economic diversification and therefore is very adapting to the current situation. Bermuda is a leading example in the crypto field. Bermuda has formed an association called DABA (Digital Asset Business Act) to regulate and control the field. ICO is classified as a restricted business activity that requires approval from the Bermuda Monetary Authority.

Taxes and Regulation

The DABA requires persons carrying on digital asset business to obtain a licence before doing so, unless that person is subject to an exemption order issued by the Minister of Finance. At the time of writing, the Minister had not issued or proposed any exemption orders.

Trading Methods



Last Updated

Monday, 31 October, 2022

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