Dare license in the Bahamas

Published:
October 4, 2022
yacht 1448961 1280

The Securities Commission of The Bahamas (the SCB) posted the DARE Act in 2019 to regulate the distribution and production of digital tokens and the behaviour of those who issue digital coins and those who offer intermediate services linked to their issuance.

Thus, the legal system of virtual currency business makes this place desirable for many corporations. If you are attracted to the Bahamas crypto license, Eli Deal’s experts can assist you to deal with obtaining a crypto license in the Bahamas.

The legislation

Digital assets are described in the DARE Act as a virtual form of value disseminated via a Distributed Ledger Technology Platform in which value is integrated or in which there is a legal contract for using it.

The law also includes the following services:

  • exchange of digital tokens,
  • support of initial coin offerings,
  • e-wallet services,
  • services for the safekeeping of cryptocurrency assets.

The Act controls cryptocurrency licenses and business in the Bahamas. It is the issue or selling of digital tokens in the Bahamas as well as the conduct of dealers and service providers. The proposed laws lay the groundwork for regulation by defining certain categories of cryptos enterprises and setting forth a framework for token issuances.

Creating a Crypto license in the Bahamas in 2022

Any legal entity wishing to be in the crypto business in the Bahamas is required to sign up for the next Act’s conditions. The registering application is obligated to be submitted in the required format, specify the sort of digital asset company to be run, and be supported by the needed paperwork and charges as outlined in the Act. The following payments must be paid to register a firm using digital assets:

  • Digital Assets Business with an application fee of $3,000 and an annual fee of $10,000,
  • Chief Executive Officer – $350 and $500,
  • Compliance Officer – $350 and $500.

Digital Assets as a Second Business

A person that is a marketplace or a trading firm may conduct a digital assets trade as an additional activity and must provide written notice to the SCB of a change of information. A person licensed as an investment fund administrator under the Investments Funds Act or licensed as a monetary or corporation provider of e-services under the Financial Corporate Service Providers Act may apply under the Act to make digital assets enterprises legal.

Exchange of tokens under licenses for cryptocurrencies in the Bahamas

Any legal organization that wants to give services to customers as a digital token exchange must first register as a digital asset company before applying for the process to set up and run a digital token exchange. The signup request has to be raised in the demanded format and include the required fees and supporting documentation.

Additionally, applicants must provide the SCB with proof of the following:

  • possesses enough capacity and resources;
  • has enough suitable strategies and powers to carry out its tasks and limit its risks;
  • has created a structure for digital assets that tackles issues such as information technology and security, governance, scalability, recognized risk framework, and information security and storing, as well as the capacity to fulfill solvency norms and amounts of capital as may be required by legislation.

Initial Coin Offering Registration

A fit and appropriate issuer must submit a registration request for the initial token offering at least 45 days before the commencement of the offer period, which cannot last more than six months. The offering memorandum, the request for enrollment in the specified format, a documented legal opinion for the categorization of the tokens, and a filing charge of $6,000 are required.

The offering memorandum must be available for download by potential buyers throughout the offer time as well as for at least 15 days after the offer period has ended. It must also include the information listed in the Second Schedule of the Act. The issuer is subject to continuous disclosure obligations underneath the Act about the offering.

If you are interested in a Cryptocurrency exchange license in the Bahamas, our specialists can help you to obtain an appropriate Cryptocurrency License in the Bahamas.

Our specialists will help you choose the best option among various businesses for sale. Feel free to contact us anytime.

Related insights

Hotel chains: recognizable brands, guaranteed income

Investing in hotel brands is an investment in stability. Well-known chains guarantee quality of service and recognition. Wherever the hotel is located, the standards of service will remain at the top. For regular guests it means bonuses and privileges, and for the investor it means stable income. Hotel rooms with guaranteed rent in Izmir This…

Read more 24.06.2025

Gambling license on the Isle of Man

Fewer than 60 active entities presently run through valid Isle of Man gambling license credential. The scarcity stems due to territory’s tight supervisory approach. Still, using evolving measures rolled out by Isle of Man Isle of Man Gambling Control Board, cross-border expansion now appears more achievable for international gaming operators. “Reliability has long anchored this…

Read more 24.06.2025

Investment opportunities in Dubai 2025

The scene presents you in Dubai with the massive Burj Khalifa standing tall in front of you while its lights shine bright against the dark nighttime background. I traveled there before and the city delivered a strong positive impact on me. Through the 2033 Economic Agenda D33 aims to expand Dubai’s economy to twice its…

Read more 19.06.2025

Kahnawake Gambling license

Not so big share of gamble firms keeps Kahnawake gambling license, partly because the jurisdiction hasn’t always drawn the spotlight like Curacao or Malta. But recent shifts by local Commission are starting to alter it, with specific professional consultants mentioning clearer terms, lower practical burdens, and growing interest from digital casino platforms. “It’s tailored more…

Read more 17.06.2025

Malta Gambling License

The gamble market is booming, and picking the right permit can make or break your venture. Some operators choose speed and low upfront costs, while others value long-term trust and reach. The Malta permit stands out for its solid reputation and comprehensive market access. Submission rate barely 30 for Malta gaming license 2025, despite Malta…

Read more 17.06.2025

Licensing in El Salvador: Building a Bridge Between Traditional and Crypto Finance

El Salvador has resorted to making some steps in the digital finance world so as crypto businesses were easier to operate. It is of high importance to know local rules in case you are going to start a platform for sending, storing, or managing digital assets. It will help to not face hazards, protect reputation,…

Read more 17.06.2025

Strategic considerations and licensing criteria for CASPs

There might be a need of yours to have MiCA researched if you earn money by providing diverse crypto stuff. You need to do that to realize how your business can adapt to the new law before on 30 December 2024 applications open for EU members. Despite the availability of up-to-date information about the MiCA…

Read more 17.06.2025

PSP Licensing in Argentina: A New Era for Fintech Regulation

Today, there are new governmental and economic bodies, hence new social challenges in Argentina. Digital fiscal services in areas like payments, money transferring, and online currencies have been growing at a very fast rate. Inflation has finally come to an end, and consumers are more interested in looking beyond the saving concept. Interest in these…

Read more 11.06.2025

LATAM Fintech in 2025: What’s Changing, and What Do You Need to Know?

Fintech in Latin America has long been associated with rapid, chaotic growth and weak regulation, as if it were an unexplored frontier. Yet, as we move into 2025, in countries as wide-ranging as Mexico, Brazil, Chile, and Peru, regulation is becoming stricter in the wake of a booming digital payments environment and increasing cyber fraud….

Read more 06.06.2025

Curaçao gambling license

The curacao gambling license remains a top choice for many operators. It offers a clear path to start an online gaming business. This guide covers all you need to know. Overview of Curaçao Gaming Authority The curacao gaming authority presides over all wagering upon the isle. It promulgates statutes for security and equitableness. Issues a…

Read more 06.06.2025

Anjouan iGaming Licence

Although it wasn’t very known among many states, Anjouan gaming license has gotten a lot of attention in recent times. It is an official permission for organizations which provide them with the opportunity to perform activity in the relevant sphere. Such an authorization is given by the local governmental body. This article is going to…

Read more 02.06.2025

Top 10 countries to get a forex brokerage license in 2025

Setting up a forex brokerage is an interesting yet complicated ride. Forex brokerage license is one of the milestones in this trip. A license ensures legal compliance and holds the trust with clients and partners. The forex market currently is booming by bringing in more than $7 trillion per day in trading volume in 2025….

Read more 05.05.2025