Brian Armstrong, the CEO of Coinbase, posted on X about Bermuda’s progressive stance toward cryptocurrency regulation and innovation. He highlighted that Bermuda aims to become the world’s first fully on‑chain national economy, a goal announced earlier this year with backing from Coinbase and Circle. Armstrong said he visited the island, observed local businesses accepting USDC, and concluded that the on‑chain economy is working, attributing the progress to the leadership of the Bermuda Premier. This matters because a sovereign nation adopting a fully on‑chain economic model could set a precedent for regulatory frameworks and mainstream crypto adoption, potentially influencing other jurisdictions to follow suit.

“Bermuda has been forward-thinking on crypto for years, combining openness to innovation with high regulatory standards. They're ahead of the curve, thanks to @BermudaPremier's leadership. Earlier this year they announced the aim to become the world's first fully onchain national economy, with support from Coinbase and Circle. So on my latest trip I went to see the progress for myself. Local businesses are accepting USDC, and the onchain economy is working”

— Brian Armstrong (@brian_armstrong) on X · X ↗

Brian Armstrong is not affiliated with COINMAG. The quote comes from a public post on X; the context was written by the COINMAG newsroom.