The Tribune

By LEANDRA ROLLE

Tribune Staff Reporter

lrolle@tribunemedia.net

PRESS Secretary Clint Watson said the government is working with key stakeholders to ensure that Bahamians can benefit from the digital assets industry.

His comments come after FTX Digital Markets - the world's second largest crypto currency exchange - held a groundbreaking ceremony on Monday for its $60m headquarters on West Bay Street. Four hundred Bahamians are expected to be employed throughout various stages of construction.

At the event, Prime Minister Phillip “Brave” Davis said it sent a strong message that The Bahamas is a safe place for international companies to set up shop.

He also echoed similar comments while giving the opening remarks at Crypto Bahamas, a cryptocurrency conference hosted by FTX and Salt at Baha Mar this week.

Asked on Friday about the government’s plans in ensuring Bahamians can be involved in the industry, Mr Watson said the Davis administration hopes to work with local regulators and stakeholders to find out how Bahamians can have access to the digital assets industry.

He also insisted that “no new industry will be derived in this country" that excludes Bahamians.

“I’m proud to announce that there are Bahamian companies who are now starting up in this industry. We met two of them at the conference and it was exciting. We’re going to profile those to the Bahamian people, so they know about them and know their whereabouts,” Mr Watson said at a press conference Friday.

“And another thing we want to do is what I call the educational side of it and that is encourage more Bahamians to study this. When you recognize that there is a new industry that has potential that this industry has – I will be telling our high school students that you may want to move away from a traditional career and go into this.”

Mr Watson also said: “This is a major opportunity for the Bahamas. The headquarters is going to be here. You see FTX is building their headquarters here so they’re going to be looking at Bahamians. They want to engage Bahamians. They have already and so I encourage Bahamians first of all, to get to know the industry, to perhaps study the industry, get certified in the industry so that you could make yourself available for opportunities in the industry.”

“As for trading, we’re going to be doing more on that. We’re working with all of our regulators and our stakeholders here locally to find out how Bahamians can have access because the Davis administration has been very clear that no new industry will be derived in this country that exempts Bahamians. It’s going to include Bahamians.”