The Catawba Nation, a federally recognized sovereign tribal government, established the Catawba Digital Economic Zone (CDEZ), a special jurisdiction within the Catawba Reservation in South Carolina, aims to enable emerging digital technology companies, including bitcoin companies. CDEZ recently achieved a significant milestone with the enactment of the Banking and Financial Services Act, a comprehensive legal framework that brings together best practices from the financial laws of South Dakota, North Dakota, and Wyoming.
The CDEZ Banking Commission, an integral part of the regulatory landscape within the jurisdiction, is now seeking experienced bank regulators and financial experts to shape the future of banking practices in the region. The authority’s responsibilities include authorizing banking operations, granting bank charters, and ensuring competitive equality among financial institutions. In addition, the committee will oversee various aspects of the bank’s operations such as mergers, branch openings and closures, and site changes, while conducting periodic checks to ensure regulatory compliance.
“The Catawba Digital Economic District provides a unique opportunity for seasoned bank regulators to contribute to the development of a robust digital banking ecosystem,” said a press release shared with Bitcoin Magazine. “We are looking for applicants with expertise in financial and banking policy-making and regulation to align traditional and digital banking practices while fostering innovation.”
CDEZ’s invitation to potential regulators and financial experts highlights its commitment to preserving the integrity and stability of the financial sector within the region. The committee has the power to enforce disciplinary action, including removal of individuals involved in illegal banking activities or unsafe practices. This focus on regulatory compliance underscores CDEZ’s dedication to maintaining high standards in the financial industry.
Applicants wishing to become bank commissioners of CDEZ can submit recommendations and applications through various channels, including CDEZ Discord ServerAnd An online form is available on their website, or via email (contact@zoneauthority.io). The Catawba Nation encourages seasoned professionals with a background in financial and banking policy-making and regulation to apply and review Catawba code guide for banking and financial services for more information.
By creating the Catawba Digital Economic Zone and advocating for experienced bank regulators, this innovative jurisdiction seeks to leverage its unique location to attract Bitcoin businesses and foster a modern economy driven by responsible innovation and consumer protection.