The island’s Financial Services Authority has set out how it will treat cryptocurrencies and crypto assets and which might be regulated as securities. Original
Isle of Man Regulator Says Bitcoin, Ether Not Considered Securities in New Guidance
Tag: Isle
Isle of Man Gov’t Executive Agency Forms Global Blockchain Office, Regulatory Sandbox
An advisory body for the self-governing British dependency Isle of Man (IoM) has launched a hub to promote the development of blockchain, fintech news agency FStech reports on Feb. 5. As a key decision maker for the economic growth of the IoM, Digital Isle of Man initiated the formation of the Blockchain Office, a global blockchain hub to provide a favorable environment for the development of blockchain projects. Along with founding the Blockchain Office, the government executive agency has also launched an Isle of Man Sandbox in order to guide…
Isle of Man updates crypto policy; to make oversight possible
Tax havens are quite an attraction to cryptocurrency businesses thanks to their less strict regulations. However, the Isle of Man has updated crypto policy to introduce further restrictions on crypto businesses in its jurisdiction. Reportedly, the updates affect businesses operating in the cryptocurrency sector. According to the updated document, the Isle of Man Financial Services Authority (IOMFSA) will register businesses subject to new conditions. In particular, the updated policy cites two conditions that make the new criteria to guide registration of crypto-related businesses. The conditions are that i) the businesses…