Jersey has brought in regulation that will give Jersey more control over the way individuals and businesses exchange virtual and physical currencies.
The new regime, developed by Digital Jersey, the States of Jersey, the JFSC and Jersey Finance as part of Jersey’s Digital Policy Framework, came into effect on Monday.
The aim is to create an appropriate business environment for virtual currencies and mitigate the potential risk of financial crimes such as money laundering and terrorist financing.
Assistant Chief Minister Senator Philip Ozouf said: "Jersey is one of the first jurisdictions to establish a progressive regulatory regime for virtual currency. We have worked hard with industry and the regulator to create the right environment for Jersey businesses to thrive in the virtual currency space."
Find out more about the regulation of virtual currency by clicking here