In Bermuda, some forex & crypto brokers hold a license from the Bermuda Monetary Authority (BMA), while others operate out of the country without one. To compensate for some of the risk, some of these unregulated crypto brokers may instead be members of independent financial dispute resolution organizations that can mediate between the broker and the trader in the event of a dispute.
As a British Overseas Territory, Bermuda is considered to be a safe and stable jurisdiction to do business in. The territory has a long history of attracting financial services companies from around the world. It should therefore not come as a surprise if the future will bring even more crypto brokers to Bermuda.