Philip Davis, the Bahamas Prime Minister, stated to Cointelegraph that there is a regulatory system in place which will allow crypto-businesses to be allowed within its territory. Interview conducted at SALT’s Crypto Bahamas conference, Davis shared that The Bahamas recently published a white paper framework that will allow crypto businesses to “grow and prosper,” while letting companies understand the region’s expectations. He also added:

Davis noted that the Bahamas has already seen crypto innovation with the establishment FTX. Sam Bankman-Fried’s cryptocurrency exchange, which It has moved its headquarters to Hong KongTo The Bahamas, September 2021. The company expects that many more cryptocurrency companies will follow their lead.