Sterling Global’s digital currency expert urged The Bahamas to adopt crypto currency legislation during the nation’s first three-day Blockchain and Crypto conference which drew hundreds of companies and international currency experts to Grand Bahama to learn more about harnessing the benefits of a digital cash system.

“One of the things we really need is legislation and regulation both globally and jurisdictionally,” said Brandon Caruana, who heads Information Technology for Sterling Global Financial, an award-winning financial services firm with nearly US $10 billion under administration or management.

A panel speaker, the Cayman-based executive presented during the “Why Invest” session last Wednesday, June 20.

With more than 15 years’ experience as an IT industry leader, Caruana has overseen the successful development and rollout of complex technology for Sterling Global Financial.

During a discussion, which explored the benefits and challenges of investing in blockchain technology, Caruana appeared alongside other industry professionals and government regulators as he advocated for broad blockchain legislation geared at propelling a crypto currency industry in The Bahamas.

“It is important to engage with regulators, especially local regulators to ensure that everyone is part of the conversation,” said Caruana.

“That will mean engaging global experts to meet with local regulators and craft a plan that is best suited to the environment we currently have.”

A longtime proponent of blockchain technology, Caruana has been instrumental in helping governments around the world craft the necessary legislation to regulate and navigate the crypto-environment.

He highlighted the growth potential within crypto-space, which continues to break traditional norms.

Caruana joined other presenters promoting Grand Bahama and the country as the leading Caribbean destination to launch new technologies and to set up shop.

The conference focused on the need for legislative adjustments, capital funding and global investment, among other issues.

In hosting the event, the government aimed to promote the city of Freeport as a digital hub, catering to new and innovative technical markets.

With offices in the Cayman Islands, Canada and The Bahamas, Sterling offers a comprehensive range of private banking, real estate investments, corporate services, trust services and directorships services to their clients, in addition to crypto-asset custody services.

Sterling Global Financial includes Sterling Bank & Trust (Bahamas) Ltd., Sterling Global Financial Advisory Services and its real estate investment fund, Sterling Mortgage Income Fund. It operates one of the oldest trust companies in the Cayman Islands and recently created Sterling Hurricane Hole as a separate entity to create a $250 million mixed use development on Paradise Island.