Guernsey is forward-looking jurisdiction with a pragmatic
approach to digital assets. Industry and the regulator (the
Guernsey Financial Services Commission
(“GSFC”)) work closely to ensure an
appropriate regulatory environment supportive of
innovation.
Guernsey has historically adopted a more conservative approach
to crypto issuance, but the GFSC has latterly acknowledged that
crypto has been evolving and some crypto currencies, such as
Bitcoin, appear to be entering a more mature period. The GFSC has
increasingly been at the vanguard of developments in tokenisation
and has consulted extensively with industry as to how an enabling
environment can be created.
The GFSC has recently launched the “Digital Finance
Initiative” (the “DFI”), a
programme to support the positioning of the Bailiwick as a trusted,
agile, and forward-thinking jurisdiction for digital financial
innovation.
