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Auditing a Digital Asset Business in Bermuda
Manage episode 499049370 series 3354898
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In this episode of ‘Tech Talks’, Bermuda’s Jerome Wilson and George McCallum are joined by Erkin Atakhanov, Managing Partner at PKF Antares in Bermuda, to discuss the critical role of auditors under the Digital Assets Business Act (DABA), where appointing an auditor is a legal requirement. Given the technical and often complex nature of digital asset and fintech businesses, auditors must have a clear understanding of each company’s processes, systems, and compliance structure to assess which processes and controls should be audited.
The conversation covers how different business models—validators, custodians (such as wallets and exchanges), and payment processors—require distinct audit approaches. The trio also address the challenge of jurisdictional ambiguity, stressing the importance of aligning internal operations with local laws even when geographic boundaries aren’t clear. As fintech businesses and blockchains may not have set jurisdictional boundaries, having an experienced auditor who understands the digital assets landscape is essential.
If you’re considering establishing a digital assets business in Bermuda or want to learn more about the audit process, connect with Jerome, George, or Erkin for further guidance.
Click here to access all our Bermuda Shorts episodes.
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Appleby is one of the world’s leading international law firms. Our global teams of legal specialists advise public and private companies, financial institutions and private individuals. We are a full service law firm providing comprehensive, expert advice and services across corporate, dispute resolution, property, regulatory, and private client and trusts practice areas. We have offices in ten highly regarded, well-regulated global locations, operating in nine and practising the laws of eight jurisdictions. Our office locations include the key international jurisdictions of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Isle of Man, Jersey, Mauritius, and the Seychelles, as well as the international financial centres of Hong Kong and Shanghai...
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