Thread by @davidzmorris

Livetweeting now - the actual Prime Minister of the Bahamas, The Honourable Philips Davis, talking about the impact of FTX collapse in his country. #Consensus2023

First, some prepared remarks. Davis making the case that the Bahamas is a well-regulated home for digital asset businesses, including high scores by evaluators of money laundering regulations. #Consensus2023

This week, Davis says, Bahamian regulators opened the public comment window for revisions to securities regs wrt digital assets.

Bahamas is investigating FTX, but it's a long process. Most importantly, Davis says, the collapse of FTX is not a consequence of any weakness in Bahamian regulatory regime.

Considering that Celsius and etc. happened in the U.S., he's def got a case there. #Consensus2023

Davis says the amendments include regs coming for disclosure and registration structures for staking, custody, stablecoins, DAOs, and more. Invites feedback on draft docs public now.

The Biden admin is not going to like any of this one bit. #Consensus2023

Davis invites audience to a reg-focused conference in Bahamas in the fall.

Now on to conversation with PM Davis and Bahamas AG Ryan Pinder, interviewed by CoinDesk's Ian Allison. This is 100% going to be a great exchange. #Consensus2023

"I met Sam Bankman-Fried no more than four times during his stay in the Bahamas. I, like you, felt he seemed altruistic ... It was a shock to discover that the business had encountered the challenges that it did." - PM Davis

Allison - Would you rather SBF had stayed in Hong Kong, or has it been worth it?

PM Davis - "I don't like Monday morning quarterbacking. I don't think we would have done anything different. He put our jurisdiction on the map, and he inspired me to look closely at [crypto]."

Allison - "What would a reasonable resolution of the current jurisdictional debate look like?"

AG - "Bahamas is a country of the rule of law, and we respect the rule of law and the process. [We were able to show that] when the regulator stepped in and put [FTX] into liquidation.

"The funds are held by the securities commission of the Bahamas," and courts will have to resolve the dispute over them.

PM Davis - "Our jurisdiction is no stranger to the liquidation of" very large enterprises.

Provisional liquidation does allow for the restart of the FTX platform, per judgment of liquidation administrators.

"It's unfortunate that when an enterprise fails, the finger is pointed at the regulatory regime. Do I point fingers [at the regulators of] Silicon Valley Bank?" - PM Davis

"We haven't seen a pullback" in interest for registration in the Bahamas post-FTX, says AG Pinder

Does Tether have a stake in Deltec? "Not that we're aware of," say both Pinder and Davis.

FTX collapse has not impacted Bahamas GDP negatively, both officials say.