Last week, the Hon. Jason Hayward JP, MP, attended the second Fintech Islands Experience 2024 (FIX 2024) held in Barbados on January 24th - 26th, 2024. 

Widely attended by entrepreneurs, regulators, lawyers, policymakers and financial services professionals from various jurisdictions, the conference featured over 125 speakers and welcomed over 800 attendees. 

Minister Hayward participated in a panel discussion on 'Advancing Blockchain as the New Technology of Trust: Navigating the Law and Finding the Right Regulatory Balance' alongside esteemed co-panellists: 

• Nicky Gomez, Senior Partner at XReg Consulting

• Aaron Grinhaus, Founder of Grinhaus Law Firm 

• Ronan Kuczaj, Founder at DLT Solutions 

• Tara Frater, (Moderator) Founder at FT Legal

The panel discussion focussed on the need for regulation to support new industries and emerging financial services underpinned by technology. 

Fintech Islands continues to be an event that brings financial technology to the forefront of economies within the Caribbean region and worldwide. 

During the discussion, Minister Hayward highlighted Bermuda's value proposition as a sophisticated jurisdiction for businesses to thrive, stating, "Collaboration between government, financial services regulators, and industry is the cornerstone of effective regulation."

Minister Hayward emphasized, "Bermuda distinguishes itself as a leading jurisdiction due to its regulatory clarity and effectiveness, strong legal system, and solid reputation. Its well-defined regulations reduce compliance risks and provide a growth-friendly environment. The Bermuda Monetary Authority's effective team of regulators ensures consumer protection and provides clear guidance. Furthermore, its compliance with international standards and recognition as a thriving financial services centre enhance its reputation."

Bermuda will continue to foster a regulatory framework that promotes innovation, financial stability, consumer protection, and overall better economic health within the ever-evolving financial services landscape.