Notice - Digital Consultation (2020-06-24)

Summary

This notice from the Bermuda Monetary Authority announces a public consultation on two new instruments made under the Digital Asset Issuance Act 2020: a proposed Statement of Principles and the Digital Asset Issuance Rules 2020. It also introduces a new digital survey tool that the Authority will pilot for this consultation to gather stakeholder feedback.

• Statement of Principles: Sets out how the Authority intends to exercise its powers to grant, revoke or restrict a Digital Asset Issuance (DAI) authorisation, and its related supervision and enforcement powers under the Act.
• Rules: Provide explicit requirements for how a DAI must be conducted.
• Digital consultation pilot: The Authority is using an online survey (accessible via tablet or mobile) instead of the usual consultation format, to broaden stakeholder engagement and improve feedback collection efficiency.
• Future use: Depending on feedback, the Authority may extend this digital survey approach to other future public consultations.

This is an informational notice rather than a binding rule; it invites industry and stakeholder feedback on the draft Statement of Principles and Rules via the referenced online survey link.

Applies to

digital asset issuers, prospective DAI authorisation applicants, industry stakeholders participating in consultation