Bermuda Passes FinTech Bill And Develops An Agreement With Binance

Bermuda’s lower house of parliament has passed an act to regulate ICOs and encourage growth of the island’s FinTech industry, just after announcing the country entered a $15 million agreement with Binance. The new FinTech legislation is expected to create a regulatory framework for ICOs and take advantage of «significant interest» in Bermuda by players in the crypto community.

The MoU between Bermuda and Binance establishes up to $15 million worth of funding for educational programs related to FinTech and blockchain startups. Binance will fund university-level training in blockchain development and compliance for citizens of Bermuda via the Binance Foundation. It will also invest in blockchain companies in Bermuda through Binance Labs.

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