Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 13 JULY 2016

"Virtual Reality" - Jersey Introduces Virtual Currency Regulatory Regime

Appleby
Appleby
Contributor
Appleby

Appleby

Appleby is a leading offshore law firm. The team of legal specialists advise global public and...

View firm profile
Explore more from Appleby

On the 15 June 2016, the States Assembly in Jersey adopted the draft Proceeds of Crime (Miscellaneous Amendments) (Jersey) Regulations 201 - (Regulations) which introduce a regime...

JerseyWealth Management
Andrew Weaver
Andrew Weaver
Author LinkedIn connections

On the 15 June 2016, the States Assembly in Jersey adopted the draft Proceeds of Crime (Miscellaneous Amendments) (Jersey) Regulations 201 - (Regulations) which introduce a regime for the regulation of virtual currency in Jersey. The regime is expected to come into force in September 2016.

The introduction of this regime demonstrates Jersey's wish to stay at the centre of technological innovation. At the same time, the Island has recognised the need for appropriate regulation to protect consumers against unacceptable risk and ensure that international standards continue to be appropriately adopted.

What does this mean for you and your business?

The Regulations amend the Proceeds of Crime (Jersey) Law 1999 (POCL), principally to add the activities of carrying on the business of virtual currency exchange within the remit of anti-money laundering requirements. The Financial Services (Jersey) Law 1998 will also be amended to include virtual currency exchange as a

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

BMA Sets Out Phased Path To A Bermuda Insurance Resolution Regime

The Bermuda Monetary Authority has published a consultation paper outlining the first phase of a resolution regime for the commercial insurance sector, designed to align with international standards. The framework establishes the BMA as the Resolution Authority with five core objectives and defines which insurers will fall within scope. This phased approach raises important questions about governance, recovery planning, and the practical implications for domestic insurers and Internationally Active Insuranc
BermudaInsurance
Appleby
Appleby
Article

The Long Game: How Bermuda Became The World’s Life Reinsurance Capital

Bermuda has emerged as the dominant global hub for life and annuity reinsurance, now holding over $900 billion in US life and annuity liabilities and accounting for 84% of all US reserves ceded offshore. This analysis examines how the island's sophisticated regulatory framework, purpose-built infrastructure, and commercially engaged regulator have created a structural advantage that extends beyond its traditional catastrophe reinsurance roots into long-dated life business from the US, UK, and Asia.
BermudaInsurance
Appleby
Appleby