Jersey Asks Public How it Should Regulate Bitcoin
The Government of Jersey has opened a consultation period to seek public opinion on whether it should regulate virtual currencies such as bitcoin. In its consultation paper, the British Crown dependency notes the risks associated with digital currencies and the various regulation options available. Notably, the document also highlights the possibility of adopting distributed ledger technology - which, the authority says, is the key innovation of digital currencies. Senator Philip Ozouf, the island's assistant chief minister, said in a statement: "Virtual currency systems represent a new....
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The Government of Jersey has asked public to provide its opinion on whether it should regulate decentralized virtual currencies such as Bitcoin or not. In its just-released consultation paper, prepared under the watch of Jersey Financial Services Commission (the "JFSC"), the Joint Financial Crimes Unit of the States of Jersey Police, the Law Officers' Department, Jersey Finance Limited ("JFL") and Digital Jersey ("DJ"), the self-governing democracy has outlined its own opinions on Bitcoin, explaining how it sees it as a great "economy-boosting" technology to adapt. However, it has also....
The island of Jersey is a pleasant, tranquil place known for its rocky beaches, soothing waves, and oh yeah… It’s loose tax regulations and growing Fintech arena. Over the past two years, arrays of financial and tech-related companies have looked to Jersey as a potential home thanks to its limited regulations regarding bitcoin and digital currencies, but all that is about to change. Presently, there are nearly two dozen established companies and businesses on the island of Jersey that accept bitcoin as a method of payment. Since October of last year, Jersey has expressed its desires to....
Jersey is an island off of the coast of Normandy with a self-governing government but still autonomously attached to the United Kingdom. Much like the Isle of Man, Jersey has been seen as one of the safe havens for digital currencies. It has led a lot of people working on financial and technological innovation to settle their business there. The island is interested in securing its future in the emerging world of digital currency and how it could benefit their community. By taking this in mind, the Island government is pushing forward with plans to regulate and establish legislation for....
On July 19, the CEO of the crypto financial services firm Blockfi, Zac Prince, told the public that the New Jersey Bureau of Securities has told the company to “stop accepting new BIA clients residing in New Jersey beginning July 22, 2021.” New Jersey’s acting attorney general Andrew Bruck also tweeted about the issue and said “we’ve been closely monitoring activity involving cryptocurrencies for compliance.” New Jersey’s Bureau of Securities Cracks Down on Crypto On Monday, an unpublished draft of a cease and desist order was discovered by the....
Although you may never have heard of it, a small country of just 100,000 people sits between England and France called Jersey. The island is just 45 square miles and attracts many startups and successful companies to its shores. Leading the way for Fintech in Europe, Jersey has begun to take on its own challenge of Bitcoin regulation. The Government of....