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News Explorer — Bahamas Passes DARE Act, An Attempt to Avoid Another FTX

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Jul 31, 5:33 pm
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Bahamas Passes DARE Act, An Attempt to Avoid Another FTX

The Bahamas has passed the Digital Assets and Registered Exchanges Act 2024 (DARE 2024) to address the changing crypto industry and prevent mistakes made by FTX. The new law introduces regulations for custody of digital assets, requiring businesses to keep assets separate and segregated. It also implements a disclosure regime for staking services and a stablecoin framework to regulate reserve assets.

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