According to Foresight News, the Bahamian Parliament passed the Digital Assets and Registered Exchanges Act 2024 (DARE 2024), which was promised after the collapse of FTX in November 2022, which was previously headquartered in the Bahamas. DARE 2024 covers a wide range of digital asset activities, including consulting or management services, digital asset derivatives, and pledge services. Digital asset exchanges must comply with higher investor and consumer protection requirements, including strict system and control requirements. The law also introduces new disclosure and financial reporting requirements, includes custody services in its scope, and establishes a comprehensive stablecoin framework while prohibiting algorithmic stablecoins.