Is a crypto license required in The Bahamas?

Yes. Any business providing virtual asset services in or from The Bahamas must be registered or licensed under the Digital Assets and Registered Exchanges Act (DARE Act).

Who regulates crypto businesses in The Bahamas?

Crypto and virtual asset businesses are regulated by the Securities Commission of The Bahamas under the DARE Act.

What activities are covered under a Bahamas crypto license?

A Bahamas crypto license may cover crypto exchanges, brokerage and OTC services, custodial wallet services, virtual asset transfers, and other approved digital asset activities, depending on the licence scope.

How long does it take to obtain a crypto license in The Bahamas?

The licensing process typically takes 3–6 months, depending on the complexity of the business model, completeness of documentation, and regulator review timelines.

Are there capital requirements for a Bahamas crypto license?

Yes. Capital requirements apply and vary based on the type of services offered. The regulator assesses capital adequacy relative to risk and operational scale.

Does The Bahamas allow crypto custody and holding client assets?

Yes. Custodial services are permitted under the DARE Act, provided the licensee implements client asset segregation, secure wallet infrastructure, and robust safeguarding controls.

Do crypto companies need local substance in The Bahamas?

Licensed virtual asset service providers are expected to demonstrate appropriate governance and operational substance, which may include local oversight and compliance functions.

Can a Bahamas crypto license be used to serve international clients?

Yes. Bahamas-licensed crypto companies may serve international clients, subject to compliance with local laws in target markets and ongoing AML/CFT obligations.

Can Consultrio assist after the crypto license is granted?

Yes. Consultrio provides ongoing compliance support, regulatory reporting, governance updates, banking strategy, and operational scaling assistance after licensing.

Caribbean · Digital Assets Regulation

Crypto License in The Bahamas – DARE Act DARE Licensing Guide (2026)

The Bahamas is one of the most advanced and credible crypto jurisdictions globally, operating a clear, enforceable licensing regime under the Digital Assets and Registered Exchanges Act (DARE Act), 2024. Crypto exchanges, brokerages, custodians, and other digital asset service providers can obtain a regulated crypto license under the supervision of the Securities Commission of The Bahamas (SCB).

This page explains how to obtain a crypto license in The Bahamas, including permitted activities, licensing structure, requirements, costs, timelines, and how Consultrio supports the process end-to-end.

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Pros

Why Choose The Bahamas for a Crypto License?

Regulated & internationally recognised framework

The DARE Act provides one of the most comprehensive crypto regulatory regimes, aligned with FATF standards and recognised by banks and counterparties.

Clear licensing scope for exchanges & custody

The Bahamas explicitly licenses crypto exchanges, brokerages, custody providers, and token services, reducing regulatory uncertainty.

Strong reputation with banks & institutions

Bahamas-licensed crypto businesses benefit from higher banking credibility compared to lightly regulated jurisdictions.

Crypto-forward regulator

The Securities Commission of The Bahamas has hands-on experience supervising major digital asset platforms, providing clarity and consistency.

What a Crypto License Allows You to Do Under the DARE Act

A Bahamas crypto license authorises a company to operate as a registered or licensed Virtual Asset Service Provider under the Digital Assets and Registered Exchanges Act (DARE Act), 2024, subject to approval scope.

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Centralised Exchange / Trading Platform

Operate a regulated crypto exchange (CEX)
Run order-book matching and execution
Offer crypto-to-crypto and approved fiat pairs

OTC / RFQ Brokerage Desk

Facilitate negotiated or brokered crypto trades
Serve institutional and professional clients
Act as principal or agent (subject to approval)

Custodial Wallet & Digital Asset Custody (Class O)

Provide regulated digital asset custody
Maintain segregated client wallets
Implement institutional-grade key management

Additional VASP Activities

Token issuance and distribution (subject to review)
Virtual asset transfers
Ancillary VASP activities approved by the SCB

Structure

Bahamas Crypto License: Typical Group Structure

Bahamas DARE Entity (Licensed Operator)

Incorporated in The Bahamas
Licensed under the DARE Act
Acts as the regulated exchange, brokerage, or custodian

Technology / IP Entity

Owns exchange engine, wallets, APIs, and IP
Licenses technology to the Bahamas DARE company
Often located in a tech-friendly jurisdiction

Treasury / Liquidity & Support Entities

Handles liquidity provisioning and treasury
May sit in the EU, UAE, or offshore
Keeps proprietary capital separate from client assets

Requirements for Obtaining a Crypto License in The Bahamas

The proposed activities must fall within the scope of “digital asset business” as defined by the Act, such as exchange, custody, wallet, or token issuance services.
Applicants must show compliance with SCB rules, AML/CFT standards, and technology control requirements.
Full disclosure of shareholders, beneficial owners, directors, and key officers (including CEO, Compliance Officer, and MLRO).
Each individual must meet fit-and-proper criteria and file the mandatory Personal Questionnaire (Form 2) with supporting KYC documentation.
Evidence of cybersecurity protocols, internal control policies, and business continuity arrangements consistent with DARE standards.

General requirements include:

Bahamas-incorporated company as domestic or IBC company registered under International Business Companies Act (Ch. 309)
Fit-and-proper forms for directors, shareholders, UBOs
Local registered office and representative in Bahamas
Appointed qualified CEO, MLRO and Compliance officer (allowed to be non-resident). Note: Outsourcing Compliance Officer / MLRO is possible only with Commission approval.

Corporate Requirements and mandatory appointments

Full AML/CFT framework (FATF-aligned)
MLRO and compliance function policies and procedures
KYC/EDD, transaction monitoring, sanctions screening policies and procedures
Certified or notarized copies of KYC documents for significant shareholders, directors, UBO (e.g. passport copy and utility bill)
Notarized Criminal record for each significant shareholder, UBO, Compliance officer and MLRO
Professional qualification certificate and CV for each significant shareholder, UBO, Compliance officer and MLRO
Bank and professional reference letters for each significant shareholder, UBO, Compliance officer and MLRO
Declaration of source of funds and wealth for each significant shareholder and UBO

AML/CFT, KYC and Compliance Requirements

A detailed business plan including financial and operational forecasts, staffing levels, and technology expenditure as part of the registration package.
Applicants must demonstrate sufficient paid-up capital and financial resources to operate the proposed digital asset business safely and sustainably.
(Exact thresholds are set by the Securities Commission of The Bahamas (SCB) based on the scale and nature of activities.)
The applicant must show evidence of available funds to support ongoing operations, client protection, and regulatory compliance obligations.
Client asset segregation and safeguarding
The Commission require professional indemnity or other insurance to cover operational and custodial risks.
All registrants are required to maintain accurate accounts and submit audited statements annually to the SCB.

Capital & Operational Requirements

Form 1 Part A (Application for Registration as Digital Asset Business)
Form 2 Part A (Personal Questionnaire for Director, Founder, Beneficial Owner, Officer, and Significant Interest Holder for persons registered under Part III of the Act )
Form 3 Part A (Application for Registration as CEO or Compliance Officer of Digital Asset Business)
Form 1 Part B (Application by Registered Digital Asset Business, Registered Firm or Financial and Corporate Service Provider to Carry on Digital Asset Business Services )
Form 1 Part C (Application for Registration of Digital Token Exchange)
Form 1 Part D (Application for Registration of Initial Token Offering)

DARE Licensing Application Forms:

Provide a detailed description of operational capabilities, including physical premises, cybersecurity protocols, data management systems, data protection systems, risk management systems, and (where applicable) banking / digital clearing / digital custody and communication capabilities.
Maintain data protection measures consistent with the Bahamas Data Protection (Privacy of Personal Information) Act, including appropriate security against unauthorised access, alteration, disclosure, destruction, and accidental loss.
Maintain up-to-date records of relevant off-chain transactions and make them readily accessible to the Commission (exchange context).
Implement record-keeping measures (where applicable) for the originator and beneficiary information/documents relating to digital asset transfers.

IT & Cybersecurity Requirements (Bahamas DARE License):

Process

Our Process for Bahamas Crypto Licensing

Step 1 – Business Model & Regulatory Mapping

Review exchange/OTC/custody model
Determine required governance & compliance footprint
Map activities to Digital Assets and Registered Exchanges Act (DARE Act), 2024

Step 2 – Bahamas Entity & Group Structuring

Incorporate IBC Bahamas entity
Finalise governance and group structure

Step 3 – DARE Licensing Pack Preparation

Prepare AML/CFT manuals, business plan, risk assessment
Submit full application to the SCB
Manage regulator queries and interviews

Step 4 – Banking, EMIs & Operational Setup

Banking and EMI onboarding strategy
Payment flows and operational launch readiness

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Costs of Obtaining Crypto License (DARE) in Bahamas

Below is an estimated cost range for crypto licensing and operating a Bahamas digital asset entity

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Company incorporation, compliance and DARE application project management fees:

Bahamas IBC Incorporation fees: $5,500
Registered address in Bahamas (paid annually): $1,200
Preparation of Compliance documentation & manuals: $12,000 – 20,000
DARE License Application and project management fees: $12,500

Government application fees payable to Securities commission of the Bahamas for digital asset exchange under DARE Act:

Application fee for digital asset exchange (crypto exchange): $6,250
Application fee for all other digital asset businesses: $3,750
Application fee for Digital asset exchange applying for an additional digital asset business activity (These fees are payable in addition to the application, registration or renewal fee for a digital asset exchange.)
Application fee for all other applicants for an additional digital asset business activity: $5,000
Application fees for the registration of chief executive officer, compliance officer and money laundering reporting officer: $500 for each

Government registration fees payable to Securities commission of the Bahamas for digital asset exchange under DARE Act after the initial approval (annual fees):

Registration fee for digital asset exchange (crypto exchange): $18,750
Application fee for all other digital asset businesses: $12,500
Application fee for Digital asset exchange applying for an additional digital asset business activity (These fees are payable in addition to the application, registration or renewal fee for a digital asset exchange.) : $6,250
Application fee for all other applicants for an additional digital asset business activity: $3,750
Renewal Fees for the registration of chief executive officer, compliance officer and money laundering reporting officer: $800 for each

Summary

Estimated setup cost: USD 30,000 – 50,000+
Estimated annual operating cost: USD 20,000 – 40,000+

Why Work With Consultrio on Your Bahamas Crypto License?

End-to-end support

Deep expertise in Bahamas DARE Act licensing for crypto exchanges, brokerages, custodians, and token platforms.
Proven experience structuring and licensing regulated crypto businesses across The Bahamas, Seychelles, Mauritius, Cayman Islands, SVG, and UAE.
We map your exact business model to the correct DARE Act licence category, avoiding misclassification and regulatory delays.

Specialised in DARE Act & VASP Licensing

1

End-to-end preparation of AML/CFT manuals, risk assessments, KYC/EDD frameworks, transaction monitoring policies, and governance documentation.
Support with MLRO and compliance function setup, aligned with the expectations of the Securities Commission of The Bahamas (SCB).
Documentation built not only for licensing approval, but also to satisfy banking, EMI, and institutional counterparties.

Compliance-First, Regulator-Ready Approach

2

Strategic guidance on Bahamas entity formation, governance, and group structuring.
Banking and EMI onboarding strategy for fiat-crypto on/off-ramps and payment flows.
Operational readiness covering wallet custody models, exchange infrastructure, internal controls, and client asset safeguarding.

Structuring, Banking & Operational Setup

3

Ready to Launch a Regulated Crypto Business in The Bahamas?

We support crypto founders with DARE Act licensing, compliance setup, banking strategy, and operational readiness, ensuring your business is regulator-approved and bankable from day one.

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