Bermuda is looking to cash in on the growing crypto market. They have stated that the country has all the potential to become the crypto hub of the world. The Crypto market has boomed significantly in recent years. The market has shown a drastic increase in investors during the last few years. The profit margin has also been great. More and more people have come forward and invested in cryptocurrencies. However, if this is something to be happy about, the market has enough reasons to worry about as well. The recent months have seen the crypto market go down drastically.
Companies like Bitcoin have also suffered a drop in price. However, it seems that Bermuda is not ready to consider any of the ongoing negativities. Jason Hayward is the Economy Minister of the country. He stated that the country is well aware of the current trends in the cryptocurrency markets. However, they will be keeping a close look at the entire situation and assessing them accordingly. Hayward said that despite all the negative trends, he is confident about the country being able to capitalize on the market. Let us learn more about the story in detail below.
Bermuda Interested In The Crypto Market Significantly
Bermuda has shown significant interest in upscaling its status in the crypto market. The Minister stated that the country has already expanded its infrastructure in the sectors of cryptocurrency since the year 2017.
Jason Hayward stated that he is confident about the capabilities of Bermuda. He stated that the country has a lot of experienced local regulators. They are well equipped in financial dealings with foreign markets. He also said that the downward trend of the market will not peg back their interest.
