Bahamas

The Bahamas Securities Commission has decided to introduce stricter rules for crypto businesses and tighten oversight of citizens' digital assets.

According to the latest reports from the Bahamian government, the country's central bank has moved to launch the country's first bank controlled digital currency. The digital currency dubbed the Sand dollar will be distributed and controlled by the Central bank itself.

Bahamas plans to introduce strong regulations for token and cryptocurrency sales, intending to make the country a better place for digital currency and blockchain businesses. The Securities Commission officially filed a draft of the bill back in March seeking to regulate token offerings that are not considered securities.

The Central Bank of Bahamas has revealed plans of introducing a pilot digital currency for the nation.