Public Reminder on Investment Currency Funding of Cryptoassets Purchases

Published: Thursday December 24th, 2020

Public Reminder on Investment Currency Funding of Cryptoassets Purchases

The Central Bank of The Bahamas reminds the public that there is no prohibition on investments in cryptocurrencies or cryptoassets by Bahamians. These are non-domestic instruments which must be funded with foreign exchange, purchased through the Investment Currency Market.

Investment Currency purchases require Exchange Control approval. However, the Bank suspended access in May 2020, as part of the foreign currency conservation measures introduced in response to the COVID-19 crisis. Market access will resume once private sector foreign currency inflows recover.

Individuals that currently have approvals to hold and maintain foreign currency denominated investments may continue to trade in such assets, including cryptocurrencies.