Bermuda approves ICO of Velocity Ledger
The Ministry of Finance of the island approved on Wednesday the ICO of Velocity Ledger Holdings Limited, which shows its openness towards the adoption of cryptocurrencies
Through a statement issued this Wednesday, the Ministry of Finance of Bermuda reported the approval of the initial currency offer (ICO) of Velocity Ledger Holdings Limited (VLHL).
The island is studying the application for approval of the VLHL subsidiary, VL Financial, submitted to the Monetary Authority of Bermuda (BMA). If the license is granted, it can operate an exchange of cryptoactives and VL tokens for the payment of licenses of platforms and technological services of VL.
Shawn Sloves, CEO of VLHL, said: “Bermuda has adopted pragmatic and non-restrictive frameworks for digital assets that provide regulatory security to market participants.”
In the opinion of the Prime Minister of Bermuda, David Burt, the adoption of cryptocurrencies has provided solutions to the institutional finance market. He highlighted the potential of fintech for local development.
Those involved in the crypto ecosystem have not neglected issues such as the regulatory framework, the security of assets, the protection of customer data, as well as custody services for assets.
M.Pino
Source: Cointelegraph
