DAO-Governed DerivaDEX Secures Landmark Bermuda Monetary Authority License for Decentralized Derivatives
DAO-Governed DerivaDEX Secures Landmark Bermuda Monetary Authority License for Decentralized Derivatives
DerivaDEX, a decentralized derivatives protocol governed by a Decentralized Autonomous Organization (DAO), has made history by becoming the first of its kind to receive a license from the Bermuda Monetary Authority.
Regulatory Milestone for Decentralized Derivatives
The Bermuda Monetary Authority (BMA) has issued its inaugural license to a decentralized derivatives protocol, setting a precedent for the burgeoning DeFi sector. The recipient of this landmark license is DerivaDEX, a platform distinguished by its DAO-governance model.
This move by the BMA signifies a growing acknowledgment and integration of decentralized financial applications within established regulatory frameworks, potentially paving the way for more traditional oversight and legitimacy for such protocols.