NASSAU, BAHAMAS — Economic Affairs minister Michael Halkitis said yesterday that planning is well advanced towards launch of the inaugural Fintech festival in The Bahamas to be held in early 2023.
Halkitis spoke during his contribution to the 2022/2023 budget debate in the Senate yesterday.
He said: “We are working with a leading Fintech events planner with the goal of bringing up to 3,000 Fintech thought leaders, entrepreneurs, enthusiasts, and people with a deep interest in this space to our shores. Planning for that is well advanced and as we saw the impact of the crypto conference this promises to be even bigger in early 2023.”
Back in April, The Bahamas hosted the Crypto Bahamas presented by FTX and SALT featuring collaboration and networking among many of the leading players in the crypto and traditional finance industry.
According to a White Paper tabled in Parliament last week, the government is aiming to “substantially” grow the digital assets sector in The Bahamas within the next three years.
Prime Minister Philip Davis has stated that it is his government’s vision to transform this nation into the leading digital assets hub in the Caribbean.
Halkitis noted that government is making amendments to the Digital Assets and Registered Exchanges Act (DARE) to respond to some of the new developments and key changes in the cryptocurrency space.
The DARE Act which was passed in Parliament in December 2020, facilitates the registration of digital token exchanges and the provision of services related to them. The legislation has been praised by stakeholders in the cryptocurrency space and has been credited with helping to attract FTX Digital Markets to The Bahamas.