Cleophas Adderley...last year (2017). But, I get your point.

Persons who participated in the fraud, ThisisOurs, often make the best whistleblowers.

Bahama, but we need people like you on the committee so that when regulation occurs, and it will, no matter how much we fight about it, at least you can guide the committee accordingly so as to prevent overregulation.

Banker, a post script to my note. Your point regarding the architects of the regulation is 1005 spot on. What I am surprised it is that the Securities Commission of The Bahamas is not involved in the regulatory process. One, believe it or not, they do have some FinTech knowledge there (maybe "experts" is a strong word). Also, DLT will eventually fall under the purview of the SCB anyway (no other agency has the resources or regulatory capacity to deal with it) so you would think bringing them in from the ground up would be ideal.

Banker, I am not so certain that I fully agree with you. A few points: a) There is no "get in" time on crypto/decentralized ledger, et. al. In fact, if you are familiar with the work of Antonoupolous (sp?) he posits that cryptos will be as pervasive as bloggers on the internet.. IF he is correct, my point here is that there is not necessarily an advantage to being the first jurisdiction to embrace DLT. So not so sure that on that basis alone that our "lunch is ate" as you put it. 2) I also slightly disagree that the regulations will hurt the Bahamas. Let's assume that said regulations are proportionate and reasoned (its the Bahamas, so I know that is a huge assumption), I actually think that in the wild west right now that is DLT, players in the market will be drawn to jurisdictions that offer sound and sensible regulations. 3) I disagree that Moxey doesn't understand blockchain. He is as versed as a layman can be (and before I get accused, no I am not Moxey nor do I know him personally), the trick is whether the government will allow him, and others of his ilk, to be involved in the regulatory process; 4) BFSB has absolutely no reason to be involved in DLT. People confuse the nature of the BFSB's existence. They are a promotional board...that's it. They should not be thought leaders in DLT or anything financial services related for that matter. And 5) the horse is not out of the barn yet, yes as you astutely pointed out, we are behind Cayman, but other jurisdictions are equally behind and even further behind than we are...all is not lost.

In no way shape or form should coin offerings fall under the purview of the Central Bank. Too large an organization, too bureaucratic, ICOs will be stuck in red tape forever. Securities Commission, a smaller organization with an Executive Director that knows what she is doing, is the better regulator. Oh, and I disagree, no 'light touch' regulation for ICOs. Too risky, retail investors will be swindled, too many people pretending they know about crypto/block chain...light regulation would be a disaster.

So now this is attached to slavery? Oh "little" John...

So because 1000 people were killed that means we can't morn this person who was killed? Your (so called) logic is eluding you by the minute, John.

And if I refuse to pay the money, what's the recourse? You take away my child? I go to jail and leave a child without a parent...because I cant afford $500? Respectfully, MadHatter, the idea makes no sense.

John, I am not sure the intent of your post here. I am equally not sure what your post of "a few years ago" has anything to do with what happened yesterday, but, instead of trying to provide a "I told you so moment", how about a little respect for the dearly departed? And, if your hubris does not allow you to do that, then how about a little respect for the daughter, who will never again have a father...Grant eternal rest upon him, O Lord, and let light perpetual shine upon him. May the souls of the dearly departed rest in peace. Amen.