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. In an interview with Cointelegraph, Philip Davis stated that the region has a regulatory regime in place which will allow crypto businesses to operate within its jurisdiction. 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 The company moved its headquarters out of Hong KongIn September 2021, to The Bahamas More crypto-companies will likely do so.