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As captive insurance domiciles race to become the go-to
hub for blockchain, cryptocurrencies and digital assets,
the Cayman Islands has been taking a number of steps to
become a leader in this space.
Bermuda, Malta, and Gibraltar have already passed laws to help
facilitate more blockchain and cryptocurrency business in their
respective jurisdictions, and others such as Liechtenstein and the
Bahamas are not far behind.
Bermuda and Malta have issued initial coin offering (ICO) specifi c
legislation, and the Bahamas has already announced it is exploring the
use of a state-backed cryptocurrency, and was among the fi rst in the
Caribbean to have a bitcoin automated teller machine.
“There is need for a multi-pronged approach for any jurisdiction
working to establish itself as a blockchain hub,” says Melanie Snyman,
director in PwC Cayman Islands’ insurance practice.
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