# Bermuda crypto regulation From the Four Pillars Asia Digital Asset Policy Center. Cite as: Four Pillars Asia Digital Asset Policy Center, "Bermuda crypto regulation", reviewed 2026-10-15, https://policy.4pillars.io/bermuda. Free to reuse with attribution: cite "Four Pillars Asia Digital Asset Policy Center" and link to the page the fact comes from (each market has its own URL), and to the primary source where one is given. Terms: https://policy.4pillars.io/developers#attribution Page: https://policy.4pillars.io/bermuda Region: Offshore hubs. Last reviewed: 2026-10-15. > Bermuda wrote a crypto licensing law in 2018 and now has 53 digital asset businesses on its register, from Circle and Coinbase to start-ups. Bermuda legislated for crypto early and by statute. The Companies and Limited Liability Company (Initial Coin Offering) Amendment Act 2018, in force on 9 July 2018, made token sales a restricted business activity that needed the Minister of Finance's consent. The Digital Asset Business Act 2018 (DABA) followed on 10 September 2018 and made it an offence to carry on digital asset business in or from Bermuda without a licence from the Bermuda Monetary Authority (BMA). In May 2020 the Digital Asset Issuance Act 2020 (DAIA) replaced the ICO rules and moved public token offerings under the BMA. DABA has been widened several times: digital asset derivatives exchanges and trust services were added in 2019, the Class T test licence in December 2020, and digital asset lending and repo services in June 2023. Licences come in three classes: Class F (full), Class M (modified, for a defined period) and Class T (pilot or beta testing). On 15 October 2026 the BMA register listed 53 digital asset businesses: 28 Class F, 17 Class M, 7 Class T and one whose class is not shown. The BMA added custody rules in February 2025 and, in November 2024, guidance for issuers of single-currency pegged stablecoins. Firms come for a single regulator with a long record of licensing them and for company law built for international business. A typical structure is an exempted company, LLC or segregated accounts vehicle formed with the Registrar of Companies, which then applies for a DABA licence. Class F and M licensees must be directed and managed from Bermuda, keep at least $100,000 of net assets and appoint a BMA-approved senior representative with an office on the island. Holders include Circle, which received the first Class F licence in July 2019, two Coinbase entities, Kraken's parent Payward, HashKey, OSL and Zero Hash. There is no tax on income or capital gains; a 15% corporate income tax has applied since 2025 only to Bermuda entities of multinational groups with revenue of EUR 750 million or more. The Government now wants to use the regime at home. In January 2026, at Davos, it announced plans to become a fully onchain national economy with Circle and Coinbase, with government agencies piloting stablecoin payments. In May 2026 the Premier told the House of Assembly that the Government plans to amend public finance laws so it can accept stablecoin payments. The BMA, meanwhile, is consulting on tokenisation, a Payment Services Act and the use of stablecoins by insurers and funds. ### Snapshot - Exchange licensing: Comprehensive. DABA licensing since 2018 in Classes F, M and T; 53 licensees on the BMA register in October 2026 - Stablecoin regime: Comprehensive. Issuance is a DABA-licensed activity; November 2024 BMA guidance sets backing and attestation standards - Tokenisation & RWA: Partial. DABA, the DAIA and fund laws already apply; an April 2026 BMA consultation proposes targeted amendments - Retail access: Comprehensive. No retail ban; DABA licensees must disclose material risks and fees to every client before trading - Tax clarity: Partial. No income or capital gains tax; 15% CIT on entities of MNE groups with EUR 750m+ revenue from 2025 ### Quick answers **Is crypto legal in Bermuda?** Yes. Individuals can buy and sell crypto onshore through licensed providers. No retail ban; DABA licensees must disclose material risks and fees to every client before trading. Four Pillars rates retail access in Bermuda as comprehensive (reviewed 15 Oct 2026). **Who regulates crypto in Bermuda?** Four authorities shape crypto rules in Bermuda. BMA (Bermuda Monetary Authority): integrated financial regulator; licenses digital asset businesses under DABA and authorises token issuances under the DAIA. MoF (Ministry of Finance): sets tax and fiscal policy; the Minister makes DABA exemption orders and consents to restricted business activities. RoC (Registrar of Companies): forms and registers companies, LLCs, partnerships and segregated accounts vehicles; keeps the beneficial ownership register. CITA (Corporate Income Tax Agency): administers the corporate income tax, economic substance and automatic exchange of tax information. **Do crypto exchanges need a licence in Bermuda?** Yes, under a dedicated regime. DABA licensing since 2018 in Classes F, M and T; 53 licensees on the BMA register in October 2026. The main licences are Digital asset business licence, Class F (full) from BMA, held by 28 as of 15 Oct 2026; Digital asset business licence, Class M (modified) from BMA, held by 17 as of 15 Oct 2026; and Digital asset business licence, Class T (test) from BMA, held by 7 as of 15 Oct 2026. Four Pillars rates exchange licensing in Bermuda as comprehensive (reviewed 15 Oct 2026). **Are stablecoins regulated in Bermuda?** Yes, under a dedicated regime. Issuance is a DABA-licensed activity; November 2024 BMA guidance sets backing and attestation standards. The most recent official text is Consultation Paper: Guidance Note on the Use of Recognised Stablecoins within Bermuda Insurance, Insurance-linked Securities and Investment Fund Structures (Bermuda Monetary Authority (BMA), 20 Jul 2026, consultation). Four Pillars rates its stablecoin regime in Bermuda as comprehensive (reviewed 15 Oct 2026). **How is crypto taxed in Bermuda?** No income or capital gains tax; 15% CIT on entities of MNE groups with EUR 750m+ revenue from 2025. Four Pillars rates tax clarity in Bermuda as partial (reviewed 15 Oct 2026). **Can real-world assets be tokenised in Bermuda?** Yes, though the regime is narrow or still phasing in. DABA, the DAIA and fund laws already apply; an April 2026 BMA consultation proposes targeted amendments. Four Pillars rates tokenisation and real-world assets in Bermuda as partial (reviewed 15 Oct 2026). **What changed most recently in Bermuda's crypto rules?** 9 Apr 2026: BMA consults on asset tokenisation. It proposed targeted amendments to existing laws rather than a new regime, with comments due by 30 June 2026. 19 Jan 2026: Onchain national economy plan announced. At Davos, the Government said it would work with Circle and Coinbase, with agencies piloting stablecoin payments. **What should companies watch next in Bermuda?** Whether the BMA turns its April 2026 asset tokenisation consultation into amendments to DABA, the DAIA and the investment laws, including an explicit DAIA exemption for tokenised funds. The Payment Services Act, which would replace the Money Service Business Act 2016 with tiered licence classes and treat stablecoin issuance as a payment activity, with exemptions for DABA-licensed firms. Final BMA guidance on recognised stablecoins in insurance, ILS and fund structures after comments closed on 30 September 2026, and the Government's planned amendments so it can accept stablecoin payments. ### Key numbers - 53 Digital asset businesses on the BMA register (28 Class F, 17 Class M, 7 Class T, 1 class not shown) (as of 2026-10-15) - 50 Digital asset businesses the BMA supervised during 2025 (22 Class F, 21 Class M, 7 Class T) (as of 2025-12-31) - $100,000 Minimum net assets for a Class F or M licensee ($10,000 for Class T) (as of 2026-10-15) - 15% Corporate income tax, only on Bermuda entities of multinational groups with revenue of EUR 750 million or more (as of 2025-01-01) ### What to watch - Whether the BMA turns its April 2026 asset tokenisation consultation into amendments to DABA, the DAIA and the investment laws, including an explicit DAIA exemption for tokenised funds. - The Payment Services Act, which would replace the Money Service Business Act 2016 with tiered licence classes and treat stablecoin issuance as a payment activity, with exemptions for DABA-licensed firms. - Final BMA guidance on recognised stablecoins in insurance, ILS and fund structures after comments closed on 30 September 2026, and the Government's planned amendments so it can accept stablecoin payments. - Bermuda's timetable for the OECD Crypto-Asset Reporting Framework, which the Corporate Income Tax Agency says it will publish in due course. ### Regulators - **BMA**, Bermuda Monetary Authority: Integrated financial regulator; licenses digital asset businesses under DABA and authorises token issuances under the DAIA. Bermuda's central bank and single financial regulator under the Bermuda Monetary Authority Act 1969: it supervises banks, insurers, investment firms, funds, trust and corporate service providers and digital asset businesses. Licenses digital asset businesses in Classes F, M and T (53 on its register on 15 October 2026) and authorises public token offerings under the DAIA. It writes custody, disclosure and cyber rules, issued stablecoin guidance in November 2024 and consulted on asset tokenisation in April 2026. - **MoF**, Ministry of Finance: Sets tax and fiscal policy; the Minister makes DABA exemption orders and consents to restricted business activities. Responsible for Bermuda's public finances and tax policy. The Registrar of Companies sits under the Ministry, and the Minister of Finance gives consents and licences under the Companies Act 1981. The Minister makes exemption orders under DABA on BMA advice, such as the 2023 order for rewards schemes, in-game assets and intra-group activity, and must consent before a company conducts a digital asset issuance, which is a restricted business activity under the Companies Act. - **RoC**, Registrar of Companies: Forms and registers companies, LLCs, partnerships and segregated accounts vehicles; keeps the beneficial ownership register. Maintains Bermuda's register of legal persons, including local and exempted companies, LLCs and exempted partnerships, and the central register of beneficial ownership under the Beneficial Ownership Act 2025. Forms the exempted companies, LLCs, SACs and ISACs that hold DABA licences or issue tokens. Registration gives no right to carry on crypto activity, which needs a separate BMA licence or authorisation. - **CITA**, Corporate Income Tax Agency: Administers the corporate income tax, economic substance and automatic exchange of tax information. Set up to administer the Corporate Income Tax Act 2023, in effect from 1 January 2025. In 2026 it became the competent authority for CRS and country-by-country reporting and took over economic substance. Bermuda has no crypto-specific tax rules. Crypto firms in multinational groups with revenue of EUR 750 million or more pay 15% CIT; others pay no tax on profits. Its CARF page says reporting obligations and timelines will be published in due course. ### Licences #### Digital asset business licence, Class F (full) - Regulator: BMA - Legal basis: Digital Asset Business Act 2018, sections 10 and 12(3)(a) - Covers: Any or all DABA activities with no fixed term: issuing or redeeming digital assets, payment services, exchanges, trust services, custodial wallets, derivatives exchanges, services vendors, and lending or repo. - Requirements: Minimum net assets of $100,000, or more if the BMA directs, plus insurance cover for risks of the business; Head office in Bermuda: the business must be directed and managed from Bermuda; A BMA-approved senior representative with an office in Bermuda; at least two persons directing the business; Annual financial statements audited by a BMA-approved auditor, filed within four months of year end; Client assets segregated under the 2025 Custody of Client Assets Rules; risk and fee disclosures to every client - Holders: 28 (as of 2026-10-15) - Notable holders: Circle International Bermuda Limited, Coinbase Bermuda Limited, Coinbase Bermuda Services Limited, Payward Digital Solutions Ltd., HashKey Bermuda Limited, OSL Bermuda Limited, Zero Hash Worldwide Ltd., Bitcoin Suisse (International) Ltd. - Official register: - Page: https://policy.4pillars.io/bermuda/licences#lic-1 #### Digital asset business licence, Class M (modified) - Regulator: BMA - Legal basis: Digital Asset Business Act 2018, section 12(3)(b) - Covers: Any or all DABA activities for a defined period set by the BMA, which describes the class as for expanding operations for a limited period. - Requirements: Same minimum criteria as Class F, including $100,000 net assets and a Bermuda head office; Licence lapses at the end of its defined period unless the BMA extends it on application; The BMA may limit the activities or attach conditions, as it can for any DABA licence; The register publishes each licence's permitted activities and expiry date - Holders: 17 (as of 2026-10-15) - Notable holders: CEX.IO Digital Ltd., Stablehouse Ltd., VNX Global Ltd., Apex Fund Services Ltd., Kimber Digital Assets Bermuda ISAC Ltd - Official register: - Page: https://policy.4pillars.io/bermuda/licences#lic-2 #### Digital asset business licence, Class T (test) - Regulator: BMA - Legal basis: Digital Asset Business Act 2018, section 12(3)(c), added by the Digital Asset Business Amendment Act 2020 - Covers: Any DABA activity for a defined period set by the BMA, for pilot or beta testing of that activity. - Requirements: Minimum net assets of $10,000, or more if the BMA directs; No Bermuda head office requirement; the senior representative need not have a Bermuda office if the BMA approves; Must state on its website that it holds a Class T licence for pilot or beta testing; Client and own transaction records kept for five years at its principal place of business - Holders: 7 (as of 2026-10-15) - Notable holders: 24X Bermuda Limited, DerivaDex Bermuda Ltd., Juno Moneta Bermuda Limited, Nimble Insurance, Ltd. - Official register: - Page: https://policy.4pillars.io/bermuda/licences#lic-3 #### Digital asset issuance authorisation - Regulator: BMA - Legal basis: Digital Asset Issuance Act 2020, sections 11 to 16 - Covers: Offering digital assets to the public in or from Bermuda by a company, LLC or partnership, for the period stated in the authorisation; issuing as a business needs a DABA licence instead. - Requirements: Application with a business plan, the issuance document and management arrangements; Issuance document published electronically and signed by all directors before the offer; Fit and proper controllers and officers, and conduct in a prudent manner, under Schedule 1; Offers to 150 or fewer persons, qualified acquirers or professionals are not public offers but need a placement declaration; Companies also need the Minister of Finance's consent, as digital asset issuance is a restricted business activity - Page: https://policy.4pillars.io/bermuda/licences#lic-4 ### Timeline - 2018-07-09: ICO law takes effect. Token sales by companies and LLCs became a restricted business activity needing the Minister of Finance's consent and a filed ICO offer document. - 2018-09-10: Digital Asset Business Act comes into force. Carrying on digital asset business in or from Bermuda without a BMA licence became an offence. - 2019-07: Circle receives the first Class F licence. Circle International Bermuda Limited became the first firm with a full DABA licence. - 2019-10: Government accepts USDC for taxes and fees. Bermuda began accepting Circle's USDC stablecoin for taxes, fees and other government services. - 2020-05-06: Digital Asset Issuance Act takes effect. Public token offerings moved under BMA authorisation, and the 2018 ICO provisions were repealed. - 2020-12-11: Class T test licence created. The Digital Asset Business Amendment Act 2020 added a licence for pilot and beta testing with $10,000 minimum net assets. - 2023-04-19: Coinbase Bermuda receives a Class F licence. The licence covers token issuance, a digital asset exchange, custody and a digital asset derivatives exchange. - 2024-12-03: Stablecoin guidance published. The BMA issued its Single Currency Pegged Stablecoins Guidance, dated November 2024, after consulting from May 2024. - 2025-01-01: Corporate income tax applies to large groups. A 15% tax took effect for Bermuda entities of multinational groups with revenue of EUR 750 million or more. - 2025-02-12: Custody of client assets rules take effect. Licensees providing custodial wallets must segregate client assets and have their controls reviewed every year. - 2026-01-19: Onchain national economy plan announced. At Davos, the Government said it would work with Circle and Coinbase, with agencies piloting stablecoin payments. - 2026-04-09: BMA consults on asset tokenisation. It proposed targeted amendments to existing laws rather than a new regime, with comments due by 30 June 2026. ### Primary sources - [Consultation Paper: Guidance Note on the Use of Recognised Stablecoins within Bermuda Insurance, Insurance-linked Securities and Investment Fund Structures](https://www.bma.bm/viewPDF/documents/2026-07-20-14-17-17-Consultation-Paper---GN-on-the-Use-of-Recognised-Stablecoins-within-Bermuda-Insurance-Insurance-linked-Securities-and-Investment-Fund-Structures.pdf). Bermuda Monetary Authority (BMA), 2026-07-20, consultation (comments closed 30 September 2026). Proposed guidance on when funds, limited purpose insurers, ILS funds and intermediaries may use recognised stablecoins: fiat-pegged, backed 1:1 by cash or cash equivalents and redeemable at par by the next business day. - [Crypto-Asset Reporting Framework (CARF)](https://www.cita.bm/crypto-asset-reporting-framework-carf). Corporate Income Tax Agency (CITA), 2026-07-01, guidance. CITA's page on the OECD crypto reporting standard. It says details of Bermuda's participation, reporting obligations and implementation timelines will be published in due course. - [Bermuda Monetary Authority 2025 Annual Report](https://www.bma.bm/viewPDF/documents/2026-07-20-12-40-59-2025-Annual-Report---Bermuda-Monetary-Authority.pdf). Bermuda Monetary Authority (BMA), 2026-06, guidance. Reports 50 digital asset businesses supervised during 2025 (22 Class F, 21 Class M and 7 Class T) and $2.6 million of DABA licence fees, and notes a stayed judicial review of certain DABA provisions. - [Asset Tokenisation Consultation Paper](https://cdn.bma.bm/documents/2026-04-09-07-13-38-Consultation-Paper---Asset-Tokenisation.pdf). Bermuda Monetary Authority (BMA), 2026-04-09, consultation (comments closed 30 June 2026; outcome pending). Proposes targeted amendments rather than a new regime: one definition of tokenised investments across the investment, fund, DABA and DAIA laws, rules for digital twins and native tokens, and an explicit DAIA exemption for tokenised funds. - [Bermuda Monetary Authority 2026 Business Plan](https://www.bma.bm/viewPDF/documents/2026-01-22-14-32-43-Bermuda-Monetary-Authority-2026-Business-Plan.pdf). Bermuda Monetary Authority (BMA), 2026-01-22, guidance. FinTech objectives for 2026: finalise licence classes under the Payment Services Act, publish the outcome of the embedded supervision pilots, and propose legislative amendments for tokenised instruments. - [The Government of Bermuda Announces Plans to be the World's First Fully Onchain National Economy with support from Circle and Coinbase](https://www.gov.bm/articles/government-bermuda-announces-plans-be-worlds-first-fully-onchain-national-economy-support). Government of Bermuda, Cabinet Office and Digital Innovation, 2026-01-19, guidance. Announced at Davos: Circle and Coinbase will provide infrastructure to the Government, banks, insurers and businesses, government agencies will pilot stablecoin payments, and merchants could accept USDC payments. - [Guidance Note: Digital Asset Business, Guidance for Prospective Applicants for Licensing](https://www.bma.bm/viewPDF/documents/2025-09-08-11-57-23-Guidance-Note---Digital-Asset-Business---Guidance-for-prospective-applicants-for-licensing.pdf). Bermuda Monetary Authority (BMA), 2025-09, guidance. Sets out what the BMA expects in a DABA licence application, from the legal vehicle, head office and staffing to outsourcing, insurance, capital and custody. It names SAC, ISAC and trust structures as bankruptcy-remote options firms have used. - [Consultation Paper: Proposed Payment Services Act 2025](https://www.bma.bm/viewPDF/documents/2025-08-29-16-34-13-Consultation-Paper---Proposed-Payment-Services-Act-2025-.pdf). Bermuda Monetary Authority (BMA), 2025-08-29, consultation (bMA plans to finalise licence classes in 2026). Proposes a Payment Services Act to replace the Money Service Business Act 2016, with tiered licence classes. Issuing or redeeming stablecoins would be a payment activity, with exemptions for DABA-licensed firms. - [Digital Asset Business (Custody of Client Assets) Rules 2025](https://www.bma.bm/viewPDF/documents/2025-02-20-09-34-51-Digital-Asset-Business-Custody-of-Client-Assets-Rules-2025.pdf). Bermuda Monetary Authority (BMA), 2025-02-12, in force. Require licensees providing custodial wallet services to keep client assets separate from their own, account for them promptly and have client asset controls reviewed annually by a qualified person. In force 12 February 2025. - [Consultation Paper: Call for Proposal, Embedded Supervision in the context of Decentralised Finance](https://cdn.bma.bm/documents/2025-02-03-10-45-22-Consultation-Paper---Call-for-Proposal---Embedded-Supervision-in-the-context-of-Decentralised-Finance.pdf). Bermuda Monetary Authority (BMA), 2025-02-03, consultation (pilot run; BMA to publish outcomes in 2026). Invited proposals for a joint pilot testing whether supervisory requirements can be built into DeFi infrastructure. The BMA lists Chainlink Labs, Hacken, Bluprynt and Apex as participants in the pilot. - [Corporate Income Tax Act 2023](https://www.bermudalaws.bm/Laws/Consolidated%20Law/2023/Corporate%20Income%20Tax%20Act%202023). Parliament of Bermuda (Bermuda Laws Online), 2025-01-01, in force. Imposes a 15% tax on Bermuda entities of multinational groups with revenue of EUR 750 million or more in two of the four prior years, for fiscal years beginning on or after 1 January 2025. Assented 27 December 2023. - [Digital Asset Business Single Currency Pegged Stablecoins (SCPS) Guidance](https://www.bma.bm/viewPDF/documents/2024-12-02-16-55-46-Digital-Asset-Business--Single-Currency-Pegged-Stablecoins-SCPS-Guidance.pdf). Bermuda Monetary Authority (BMA), 2024-11, guidance. Sets the BMA's expectations for licensed stablecoin issuers: segregated, high-quality liquid backing assets at least equal to coins in issue, monthly attestations, a published white paper, stress testing and recovery planning. Published with a stakeholder letter on 3 December 2024. - [Digital Asset Business Exemption Order 2023](https://www.bma.bm/viewPDF/documents/2023-11-20-16-59-20-Digital-Asset-Business-Exemption-Order-2023.pdf). Ministry of Finance, 2023-06-23, in force. Exempts the BMA and Government from DABA, and lets rewards programmes, in-game assets, data storage providers, intra-group activity and funds with a licensed manager claim exemption by notifying the BMA and filing an annual declaration. - [Digital Asset Business Amendment Act 2023](https://www.bermudalaws.bm/Laws/Annual%20Law/Acts/2023/Digital%20Asset%20Business%20Amendment%20Act%202023). Parliament of Bermuda (Bermuda Laws Online), 2023-06-09, in force. Added digital asset lending and repurchase transactions as a licensable activity and set record-keeping rules for Class T licensees. In force 9 June 2023. - [Digital Asset Business Amendment Act 2020](https://www.bermudalaws.bm/Laws/Annual%20Law/Acts/2020/Digital%20Asset%20Business%20Amendment%20Act%202020). Parliament of Bermuda (Bermuda Laws Online), 2020-12-11, in force. Created the Class T licence for pilot and beta testing, with $10,000 minimum net assets and no Bermuda head office requirement, and amended the fee and exemption provisions. In force 11 December 2020. - [Digital Asset Issuance Act 2020](https://www.bermudalaws.bm/Laws/Consolidated%20Law/2020/Digital%20Asset%20Issuance%20Act%202020). Parliament of Bermuda (Bermuda Laws Online), 2020-05-06, in force. Requires BMA authorisation and, unless an exemption applies, a published issuance document for public offers of digital assets in or from Bermuda; offers to 150 or fewer persons, qualified acquirers or professionals are not public offers but need a placement declaration. Assented 19 March 2020, in force 6 May 2020. - [Digital Asset Business (Client Disclosure) Rules 2018](https://www.bma.bm/viewPDF/documents/2023-11-27-15-56-45-Digital-Asset-Business-Client-Disclosure-Rules-2018.pdf). Bermuda Monetary Authority (BMA), 2018-09-11, in force. Require licensees to disclose all material risks before a client's first transaction, and their licence class, fees, insurance cover and whether transfers are irrevocable when agreeing to provide services. - [Digital Asset Business Act 2018](https://www.bermudalaws.bm/Laws/Consolidated%20Law/2018/Digital%20Asset%20Business%20Act%202018). Parliament of Bermuda (Bermuda Laws Online), 2018-09-10, in force. The core regime: anyone carrying on digital asset business in or from Bermuda needs a BMA licence in Class F, M or T, and must meet minimum criteria including $100,000 of net assets and a Bermuda head office. Assented 25 June 2018, in force 10 September 2018, last amended in 2024. - [Annex VIII: Sector-Specific Guidance Notes for Digital Asset Business](https://www.bma.bm/viewPDF/documents/2023-11-27-16-27-49-Annex-VIII--Sector-Specific-Guidance-Notes-for-Digital-Assets.pdf). Bermuda Monetary Authority (BMA), 2018-09, guidance. Applies Bermuda's AML/ATF regulations and general guidance notes to digital asset businesses, covering customer due diligence, ownership and staff checks, and wire and digital asset transfers. - [Companies and Limited Liability Company (Initial Coin Offering) Amendment Act 2018](https://bermudalaws.bm/Laws/Annual%20Law/Acts/2018/Companies%20and%20Limited%20Liability%20Company%20(Initial%20Coin%20Offering)%20Amendment%20Act%202018). Parliament of Bermuda (Bermuda Laws Online), 2018-07-09, superseded. Bermuda's first token-sale law: ICOs needed the Minister of Finance's consent and an ICO offer document filed with the Registrar. In force 9 July 2018; its ICO provisions were repealed by the Digital Asset Issuance Act 2020. - [Exempted Undertakings Tax Protection Act 1966](https://www.bermudalaws.bm/Laws/Consolidated%20Law/1966/Exempted%20Undertakings%20Tax%20Protection%20Act%201966). Parliament of Bermuda (Bermuda Laws Online), 1966-03-29, in force. Lets the Minister assure exempted companies, LLCs and partnerships, up to 31 March 2035, that any future tax on profits, income or capital gains will not apply to them. Since 2025 these assurances do not protect against the Corporate Income Tax.