The Bermuda government is moving ahead with its ambitious dream to make Bermuda a crypto hub amidst the market downturn. The Bermuda government remains unaffected by the recent Terra crash in May.
Since 2017, this beautiful island territory, popular for its pristine pink beaches and lucrative taxation, has actively worked toward expanding its crypto sector, Jason Hayward, Bermuda’s economy and labour minister, noted.
While speaking to the Wall Street Journal (WSJ), Hayward added that the economy’s and local regulators’ experiences in dealing with foreign businesses is the key factor that will help grow Bermuda as a crypto hub. He stated optimistically that he was confident that the crash did not hamper Bermuda’s ability to become a crypto hub.