Isle of Man eBusiness Chief: Bitcoin Legislation Coming This Year
The story of bitcoin on the Isle of Man has been one of fits and starts. Bursting onto the scene as a favorable jurisdiction for bitcoin at a time when global regulators were largely taking a reactionary approach to the digital currency, the self-governing British crown dependency won quick acclaim from prominent members of the ecosystem. By September, however, doubt was cast on the viability of its initiatives when key banking channels available to startups were abruptly severed during a high-profile conference. Undeterred, the Isle of Man is seeking once again to make the case that it....
Related News
In March, Bitcoin Magazine reported that the Isle of Man wants to become a leading Bitcoin hub. The government of the tiny island is pushing forward a new regulatory framework to create a true paradise for digital currencies. Bitcoin Magazine spoke with Brian Donegan, Head of Operations for Digital Development and eBusiness at the Isle of Man Department of Economic Development. Donegan confirmed that the island, a self-governing British Crown dependency located in the Irish Sea between Great Britain and Ireland, is gearing up to become the ideal environment for digital financial technology....
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 is known for having a bitcoin-friendly exterior in the world that seems so bent on regulating digital currencies. Through legislation allowing the exchange of digital currencies, they've poised themselves to be a haven for bitcoin enthusiasts. With the Isle of Man being so open to bitcoin, it only makes sense that businesses would begin to sprout up due to the acceptance. "The Isle of Man has a great government which is really progressive on many things," said James Carter, founder of ChainPay. "They really see the benefit of crypto, and how it's the way of the future in....
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....
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....