Crypto License in the Bahamas (2026)

Registration regimeLast reviewed 2026-08-24

Do you need a crypto license in Bahamas?

Yes. Carrying on a digital asset business in or from The Bahamas means registering with the Securities Commission under section 9 of the DARE Act 2024. An exchange pays USD 6,250 to apply and USD 18,750 on registration and on every renewal; other categories pay USD 3,750 and USD 12,500. Renewals fall due on 31 January. Algorithmic stablecoins cannot be issued at all.

Read this before you plan an application

Algorithmic stablecoins may not be issued from The Bahamas at all, and the 90 day window for pre-2024 operators to turn deemed registration into a real application closed in late October 2024. Neither gap can be closed by paying a fee.

The Bahamas registers digital asset businesses rather than licensing them, under the Digital Assets and Registered Exchanges Act 2024, which was assented on 26 July 2024 and took effect three days later. DARE 2024 is the post-FTX rewrite of the 2020 Act: it widens the perimeter to custody, staking, payment services, derivatives and stablecoin issuance, and it bans algorithmic stablecoins outright. The Securities Commission publishes its fee schedule item by item, which is unusual in the region. A digital asset exchange pays USD 6,250 to apply, USD 18,750 to register and USD 18,750 for each year after that, half as much again as the USD 12,500 every other category pays.

Regime: Registration regime
Regulator: Securities Commission of The Bahamas
Framework: Digital Assets and Registered Exchanges Act (2024)
Application fee: USD 6,250 for a digital asset exchange, USD 3,750 for every other digital asset business category
Annual fee: USD 18,750 for a digital asset exchange, USD 12,500 for every other category, due by 31 January each year

The framework

DARE 2024, Act No. 40 of 2024, repealed and replaced the Digital Assets and Registered Exchanges Act 2020 and is administered by the Securities Commission of The Bahamas. It was assented on 26 July 2024 and commenced on 29 July 2024. The rewrite followed the collapse of FTX, which was headquartered in Nassau, and it tightened the custody, disclosure and systems obligations the 2020 Act had left thin.

What is covered

Section 9 requires registration to carry on a digital asset business in or from The Bahamas, and the activity list is broad: operating a digital asset exchange, exchanging digital assets for fiat or for other digital assets, payment services using digital assets, order execution, placing digital assets, transfer services, custody, advice, discretionary management, digital asset derivatives, staking services, running DLT nodes, anonymity enhancing services, and issuing stablecoins. Issuing an algorithmic stablecoin is prohibited, so that one activity has no registration route at all.

Fees

The Commission publishes the numbers itself, which is why they can be quoted exactly. A digital asset exchange pays USD 6,250 to apply, USD 18,750 on registration and USD 18,750 for each annual renewal. Every other digital asset business pays USD 3,750, then USD 12,500 to register and USD 12,500 to renew. An already registered exchange adding an activity pays USD 7,500 to apply and USD 6,250 per additional activity at registration and at renewal. The Bahamian dollar is pegged one to one with the US dollar, so the published figures read the same either way.

Applying and renewing

Applicants file the prescribed Form 1, with a Form 2 fit and proper disclosure for each founder, beneficial owner, security holder, director and officer. Renewal falls due on 31 January each year, and a registration granted outside the January to March window is charged a pro rated fee for its first year.

The transition trap

Businesses already carrying on a DARE activity when the 2024 Act commenced were deemed registered, but only if they applied formally within 90 days. That window closed in late October 2024, so an operator trading in or from The Bahamas that never applied is unregistered rather than grandfathered.

License classes in Bahamas

License classes, the activities each covers, and their fees and capital requirements where published.
Class	Covers	Fee	Capital
Digital asset exchange	Operating a digital asset exchange in or from The Bahamas	USD 6,250 application, USD 18,750 registration, USD 18,750 annual renewal	Not published
Other digital asset business	Custody, payment services, order execution, transfers, advice, discretionary management, derivatives, staking, DLT node services and stablecoin issuance	USD 3,750 application, USD 12,500 registration, USD 12,500 annual renewal	Not published
Additional activity add on	Adding a further DARE activity to an existing digital asset exchange registration	USD 7,500 application, USD 6,250 per activity at registration and renewal	Not published

What the application requires

Registration with the Securities Commission under section 9 of the DARE Act 2024
A legal entity, since registration is granted to entities rather than to individuals
The prescribed Form 1 application, filed for each activity you intend to carry on
A Form 2 fit and proper disclosure for every founder, beneficial owner, security holder, director and officer
The application fee for the category applied for, then the registration fee on approval
Annual renewal filed and paid by 31 January
Reserve, custody and redemption compliance for any registered stablecoin issuance
No issuance of algorithmic stablecoins, which the Act prohibits outright

The application process

Incorporate and prepare
Set up the Bahamian entity and gather the Form 2 fit and proper material for every founder, beneficial owner, security holder, director and officer.
File Form 1
Submit the prescribed application to the Securities Commission for the category and the specific activities you intend to carry on.
Pay the application fee
USD 6,250 for a digital asset exchange, USD 3,750 for any other digital asset business.
Commission assessment
The Commission reviews the application against the DARE Act 2024 requirements for the activities requested.
Register and pay
On approval, pay USD 18,750 for an exchange or USD 12,500 otherwise, pro rated in the first year if approval falls outside January to March.
Renew each January
The annual renewal fee falls due by 31 January and matches the registration fee for the category.

Costs and taxation

The fees here are the Commission's own published figures, not a consultancy estimate. Budget the registration fee on top of the application fee: an exchange pays USD 6,250 plus USD 18,750 in its first year. Adding an activity to an existing exchange registration costs a further USD 7,500 to apply and USD 6,250 per activity at registration and renewal.

The Bahamas levies no corporate income tax and no capital gains tax, so a registered digital asset business is taxed through value added tax and the annual business license charge rather than on its profits. DARE registration fees are separate from all of that.

Who is licensed today

DARE 2024 requires the Commission to keep an electronic register of registered digital asset businesses, so a counterparty claiming Bahamian registration can be checked rather than taken at its word.

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Frequently asked questions

Do I need a license to run a crypto exchange in The Bahamas?

Yes, though The Bahamas calls it registration rather than licensing. Section 9 of the DARE Act 2024 requires anyone carrying on a digital asset business in or from The Bahamas to register with the Securities Commission of The Bahamas.

How much does a Bahamas digital asset exchange registration cost?

USD 6,250 to apply and USD 18,750 on registration, then USD 18,750 for each annual renewal. Every other digital asset business pays USD 3,750 to apply and USD 12,500 to register and to renew. The Commission publishes these figures itself.

Can I issue a stablecoin from The Bahamas?

Asset backed stablecoin issuance is a registrable activity under DARE 2024. Algorithmic stablecoins are prohibited outright, so there is no registration route for one.

When is the DARE registration renewal due?

By 31 January each year, at the same amount as the original registration fee. A registration granted outside the January to March window is charged a pro rated fee for its first year.

What happened to firms already operating when DARE 2024 started?

They were treated as registered when the Act commenced on 29 July 2024, but only if they applied formally within 90 days. Missing that window left them unregistered rather than grandfathered.

Sources

Buying bitcoin as an individual is a different question entirely: how to buy bitcoin in Bahamas covers exchanges, payment methods and legality for residents, and the crypto license hub compares every jurisdiction we track.