Public Warning: Blockchain Deposit Insurance Corp. (2025-03-03)

Summary

This is a public warning notice issued by the Bermuda Monetary Authority (BMA) concerning Blockchain Deposit Insurance Corp. (BDIC), an entity that online articles claim is a Bermuda-formed company planning to launch an insurance platform with its own digital token. The Authority confirms BDIC is not licensed or registered to conduct any regulated activity in or from Bermuda and does not appear on the Registrar of Companies register.

• Warning basis: Online articles describe BDIC as about to launch an insurance platform featuring a digital token, activities which would require BMA licensing if conducted by a Bermuda-formed entity.
• Authority findings: BDIC is not licensed or registered by the BMA and does not appear on the Registrar of Companies register.
• Public risk warning: The BMA reminds the public that dealing with unregulated entities, particularly those making false representations, carries increased investment risk, and anyone doing business with BDIC does so at their own risk.
• Listing action: BDIC has been added to the BMA's public warning list of unauthorised firms and individuals, accessible at www.bma.bm/warning-list.

Applies to

members of the public, potential investors