What is Bahamas's FATF status?

Bahamas is classified by FATF as: compliant.

Are VASPs licensed in Bahamas?

Yes — licensing is required for VASPs.

What is the AML/KYC regime in Bahamas?

KYC is mandatory for crypto businesses.

🇧🇸 Bahamas

The Bahamas maintains a crypto-friendly regulatory environment with a clear legal framework under the Digital Assets and Registered Exchanges Act (DARE Act 2020). The Securities Commission of The Bahamas oversees licensing and supervision of digital asset service providers.

Overview

Status	crypto_friendly
Risk Score	20/100 (Low Risk)
Region	caribbean
Currency	BSD

Tax Information

VAT on Crypto

Licensing & Registration

Required	Yes
Regulator	SCB
Framework	Digital Assets and Registered Exchanges Act (DARE Act 2020)
Ease	medium
Cost (USD)	$20,000 - $150,000

Licensing is mandatory for digital asset service providers under the DARE Act, with regulatory oversight by the Securities Commission of The Bahamas.

Enforcement Activity

Level: High

SCB took significant enforcement action in the FTX collapse. Enhanced regulatory oversight and enforcement capacity have been implemented.

CBDC

Status	Launched
Name	Sand Dollar
Issuing Authority	Central Bank of Bahamas
Model	retail
Technology	Movmint (DLT)
Launched Date	2020-10-20

AML / KYC

KYC Required	Yes
Travel Rule	Yes
FATF Member	Yes
FATF Status	compliant
FATF Body	CFATF
Suspicious-Activity Reporting	Yes

DeFi, Stablecoins & NFTs

Status: regulated

DeFi activities are regulated under the DARE Act, requiring compliance with AML and licensing provisions.

Stablecoins

Status: regulated

Stablecoins are regulated under the DARE Act with specific provisions for issuance and operation.

NFTs

Status: no_rules

No NFT-specific regulation under DARE Act.

Mining

Legal	Yes
Electricity Cost	$0.3/kWh
Renewable Energy	10%
Infrastructure	fair

Mining is legal but electricity costs are relatively high; infrastructure is developing.

Geopolitical Risk

Stability	stable
Sanctions	No
Corruption Index	48/100
Banking Access	moderate
Sanctions Program Active	No

Risk Factors

hurricane risk
small market size

The Bahamas is politically stable with moderate corruption and reasonable ease of doing business. It faces natural disaster risks such as hurricanes but is not under international sanctions.