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BAHAMAS: Legislation to facilitate growth in local crypto market out for public consultation

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#Nassau, April 4, 2019 – Bahamas – Draft legislation has been put forward to give The Bahamas a clear competitive advantage with respect to digital asset solutions as financial technologies continue to drive growth in the financial services sector.

The Digital Assets and Registered Exchanges Bill, 2019 (DARE), which was developed by the Securities Commission of The Bahamas (SCB), provides solutions for digital asset applications and creates a proper regulatory framework for The Bahamas’ crypto market.

“Disruptions caused by the digitization of the economy are leading to a new wave of regulatory reform. As countries around the world innovate new ways to safeguard against the erosion of their tax base, these developments will undoubtedly affect us here in The Bahamas. With the DARE legislation, we are looking to the future, anticipating and preparing for the changes on the horizon, forming coalitions to influence the nature of change,” said Deputy Prime Minister and Minister of Finance Peter Turnquest.

“The whole issue of crypto currencies and assets is very dynamic. We have been deliberate in creating a regulatory environment that safeguards the country’s economic interests and shores up our global competitiveness. These efforts will help to grow our reputation as an innovative and responsive financial centre,” said Minister Turnquest.

The Bahamas has a budding crypto ecosystem, including: crypto start-ups, exchanges, and traditional financial institutions servicing crypto companies. Requests continue to come to the Government from related businesses like crypto custodians, and companies conducting initial token offerings (ITOs) and security token offerings (STOs) that want to base their business in The Bahamas.

“New legislative initiatives will facilitate these growth opportunities and drive innovation and diversification in the industry. I look forward to presenting the Bill to Cabinet when the public consultation phase is complete,” said Minister Turnquest.

About the DARE Bill

The DARE Bill provides for the regulation of the issuance and sale of digital tokens, and for the regulation of the conduct of those issuing digital tokens and those providing intermediary services related to the issuance of digital tokens. It also provides clarity with respect to stable coins.

Specifically, the Bill creates a legislative structure by which persons who wish to participate in the digital token space are guided on the requirements for entry into and participation in the industry. These requirements stipulate who may participate, the level of capital required, the rules for reporting and seeking the Commission’s approval, and the penalties for failure to comply.

Additionally, the rules stipulate that participants must adhere to established anti-money laundering (AML) and counter-financing of terrorism (CFT) laws, must take data protection measures related to the personal information of clients, and must implement measures to prevent data breaches which would jeopardize the crypto assets of clients.

He said the comprehensive Bill will provide participants in the digital token space with clear rules of entry and operation in The Bahamas’ crypto market.

Press Release: Ministry of Finance

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Bahama Brass Band Invitation Sparks Heritage Debate Ahead of TCI Constitutional Holiday

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Turks and Caicos, August 20, 2026 – The planned participation of the Bahama Brass Band in the Turks and Caicos Islands’ inaugural Constitutional Holiday celebrations on August 30 has sparked public debate over culture, heritage and the historical contributions of Turks and Caicos Islanders abroad.

Organizers defended the invitation, saying the band’s inclusion is intended to highlight the deep historical ties between the two countries and honor Turks and Caicos men who helped establish and develop the institution in Grand Bahama.

According to the organizers, the Bahama Brass Band began in 1955 in Pine Ridge, Freeport, with Turks and Caicos Islanders, including the late Deacon Reuben Hall Sr. of Middle Caicos and Jenkins Williams and Mervin Hendfield of North Caicos, among those who helped build its foundation. The band eventually grew to more than 50 men.

The organizers also pointed to the participation of Turks and Caicos men in The Bahamas’ Independence celebrations on July 10, 1973, arguing that their contributions became part of Bahamian history while maintaining strong connections to their homeland.

Supporters say bringing the band home represents an opportunity to honor those pioneers, showcase their regional influence and expose younger generations to an important part of Turks and Caicos history.

However, concerns raised publicly described the invitation as potentially disrespectful to local culture and heritage. Organizers acknowledged those concerns, apologizing to anyone who felt overlooked or offended, while maintaining that no disrespect was intended.

The committee said the event should ultimately unite rather than divide, presenting the band’s history as evidence of the reach and resilience of Turks and Caicos heritage.

PHOTO CREDIT: Bahamas Brass Band

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CBC Supports Opportunities for Young Bahamian Basketball Players

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NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers of Dasani products, proudly sponsored the fifth annual, Caribbean Hoopfest.

The tournament brings together Bahamian high school basketball teams and visiting teams from the United States for a competitive showcase at the Kendal G. L. Isaacs Gymnasium.  Following its inaugural year at the Kendal G. L. Isaacs gym and last year’s event at Loyola Hall, the tournament returned to the Kendal G. L. Isaacs gym this year.

During the weekend tournament, CBC kept athletes well hydrated with in-kind donations of Dasani Water, Powerade and Minute Maid Juices.

During the tournament’s final day, CBC provided additional support by offering Sprite No Sugar samples and inviting attendees to participate in its Spin the Wheel for a chance to win exciting prizes.

CBC was proud to support this incredible event, which provides young Bahamian athletes with valuable exposure to U.S. basketball scouts and coaches. This opportunity gives them the chance to earn scholarships, continue their education, and pursue their basketball careers in the United States.

Event organizer, Donald Francois shared his appreciation for CBC’s support.

“I want to express our sincere appreciation for Caribbean Bottling Company, who has been a tremendous supporter and an important part of the success of our program. Without CBC’s support, Caribbean Hoop Fest would not be able to function at the level it does today. And without Caribbean Hoop Fest, we would not have been able to provide the opportunities that have helped young Bahamian athletes gain exposure and pursue educational opportunities in the United States,” he expressed.

Since the program’s inception, several Bahamian student-athletes have been selected for scholarship opportunities, highlighting the tournament’s growing impact on the development and advancement of young basketball talent in The Bahamas.

They are: Kelvin McDowells – Guard, Wodson Antoine – Power Forward, Justin Lafleur – Guard and Sean John – Guard.

After another successful edition of the tournament, Francois shared what he hopes he and Caribbean Bottling Company can achieve in the future.

“Our vision is bigger than basketball. We want to use the platform of Caribbean Hoop Fest to educate, develop, and create opportunities for young people and their families throughout the Bahamas. With individuals and organizations committed to our mission, we believe we can continue to grow the program and make an even greater impact,” Francois said.

For more details on community support, events and new products visit Caribbean Bottling Company at www.cbcbahamas.com today.

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More Bahamians Accessing HIV, STI Care Through NHI

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NASSAU, Bahamas — More Bahamians are accessing HIV and sexually transmitted infection-related healthcare through National Health Insurance, a trend the NHI Authority says should be viewed positively.

NHIA stressed in an August 6 statement that its 2025 figures measure healthcare utilisation, not newly diagnosed infections. They include beneficiaries screened, treated, monitored or receiving follow-up care, including people diagnosed previously.

“Increased utilisation of these services should be viewed as a positive development,” NHIA said.

The Authority pointed to “greater enrolment and use of NHI, improved access to screening and testing, continued treatment and monitoring of existing conditions, and increased willingness to seek medical care.”

The development comes amid a mixed three-year HIV picture. New diagnoses rose from 130 in 2023 to 156 in 2024, before declining to 142 in 2025.

NHIA said increased utilisation demonstrates that more beneficiaries are accessing needed healthcare and actively managing their health, reinforcing the importance of screening, early diagnosis and continued treatment.

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