What were the main digital policy regional updates in the Caribbean? This space brings you the main updates month by month, summarised by the observatory's curators.
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Curated by Andre Edwards
The government of Antigua signs MoU with Globex and Julius Capital Bank
7 Aug 2019 | E-Money and virtual currencies
Antigua has made a recent step forward within the digital securities sector and is making its case as the new ‘blockchain island’. In a recent announcement, it was divulged that the Antigua and Barbuda Ministry of Finance & Corporate Governance (MFCG) has signed a memorandum of understanding (MoU) with Globex and Julius Capital Bank. The MoU will see new markets developed, supporting the issuance and secondary market trading of digital securities within the country.
The participants are expected to bring the following key contributions:
- The MFCG will provide the necessary regulations and the green-light to ensure safe and fair trading practices for all market participants.
- Globex will act as a software as a service (SaaS) provider, allowing for a regulatory compliant exchange.
- The Julius Capital Bank will provide FIAT gateways, allowing investors to enter and exit markets without exposure to cryptocurrencies.
Bahamas Industrial Tribunal goes digital with e-filing
14 Aug 2019 | Development - other
Litigants, advocates, and legal representatives accessing the Bahamas Industrial Tribunal will now be able to file their cases at any time, from anywhere – including the Family Islands, following the launch of an e-filing and case management system at the Tribunal. Indira Francis, president of the Tribunal said, ‘This is a historic day for the Industrial Tribunal as well as for courts in The Bahamas. Individuals requesting services from the Tribunal now have a much more convenient way to do so using our new Folio e-Filing portal’. The development falls in line with Chief Justice Brian Moree’s recent announcement about the total digital transformation of the Bahamian court system through a multi-year ‘e-services’.
Data Protection bill passed in Barbados
20 Aug 2019 | Privacy and data protection, Cybersecurity
Barbados has become one of the first English-speaking Caribbean countries to pass a GDPR-like data protection law. The legislation includes many aspects similar to the GDPR, including the right to access data, having data erased, and restrictions on processing. Companies also have 72 hours to report data breaches under the new law.
A key difference between the Barbados Data Protection Act and the GDPR is that the former law limits fines to about USD $250 000. Other Caribbean jurisdictions with data protection laws include Saint Vincent, Saint Lucia, Antigua and Barbuda, and Saint Kitts and Nevis – which were drafted in 2015 or earlier. The Cayman Islands also passed a GDPR-like data protection law in 2018.