Pro Bitcoin countries: Isle of Man.
The second country that we will take a closer look at is the Isle of Man. The Isle of Man is nestled between Ireland, England,Wales and Scotland. It has been a haven for online gambling companies for a couple of years now. However The Isle of Man is looking toward the future like an open minded country should. There has been quite a storm about the Isle of Man’s decision to become a “pro digital currency”. Some have condemned this choice, while others applaud the innovative aspect and calling this step a “historical” one for digital currencies and Bitcoin in particular. To celebrate and....
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The Isle of Man has been quite open to any company or individual looking to venture into the world of Bitcoin and cryptocurrency. CoinCorner is the first company in the region to achieve Designated Business Status as the company is now officially licensed. The Isle of Man has introduced an Act in October of 2015, which would ensure companies in the area....
The Isle of Man government has welcomed GreenCoinX, an identifiable cryptocurrency which is 80 percent owned by Toronto, Canada-based GreenBank Capital Inc. "We welcome the decision by GreenCoinX to establish its operations in the Isle of Man which reinforces our position as leading the way in the digital currency sector," said Isle of Man Chief Minister Allan Bell MHK. GreenCoinX has opened its European marketing and international treasury office in Douglas, Isle of Man, and has engaged the services of Alan Molloy as CEO of its Isle of Man operations. Molloy previously served as managing....
The Isle of Man could become the Switzerland for Bitcoin as the small island’s government has been quick to react to the growth of digital currencies. Over the past twenty years the proliferation of the internet has brought about a golden age of gambling. Regulating this rapid growth has been a massive challenge for legislators globally and with the growth of crypto-currencies this task has become a lot harder. So, why are some countries doubling-down while others are leaving the table? History of bending rules. Few people outside of the British Isles will know much about the Isle of Man.....
The Isle of Man's Department of Economic Development announced it's plans to bring regulations into the Bitcoin space that would help protect businesses and customers using digital currencies. "Our stance is intended to welcome those who can meet the necessary standards while also preserving the Island's good reputation as a financial centre." - Peter Greenhill (Isle of Man's Department of Economic Development Director of E-Business Development). The Isle of Man is choosing to recognize Bitcoin as property instead of currency and apply appropriate AML (anti-money laundering) controls to....
Bitcoin AVM (automated vending machine) operator QwikBit today announced that they have taken delivery of a first batch of bitcoin AVMs manufactured in Portugal by Lamassu for an eventual distribution on the Isle of Man and in the United Kingdom. We've seen many of these Lamassu devices make their debut over the past year, but the location in which these particular machines will be placed is fitting. That's because the Isle of Man is hoping to become a hot spot for bitcoin activity. A number of businesses on the Isle have already committed to helping bitcoin businesses get started, as we....