The virtual currency legislation will make it easier for companies dealing in Bitcoin to operate Jersey’s government is to introduce “light touch” regulation for virtual currencies, according to the assistant chief minister. Senator Philip Ozouf announced the new legislation at the island’s first finance technology conference. The government has been working on the legislation for […]

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 (JFCU), the Law Officers’ […]

Britain has taken a significant step towards becoming a global bitcoin hub as the government announced it would regulate digital currencies for the first time by applying anti-money laundering rules to exchanges. Already the centre of the US$5-trillion-a-day market for traditional currencies, the UK is fast emerging as a centre for digital currencies, cementing its […]

For the most part, we can all agree that a level of regulation plays an important role in consumer protection. Just as we expect stock exchanges and banks to be regulated, so, too, should virtual currency exchanges and centralized companies that store large balances on behalf of consumers, be regulated. This should help prevent situations […]