The Isle of Man continues to embrace and nurture this evolving sector and is working hard to become the jurisdiction of choice for cryptocurrency.
The government has long expressed the desire to develop permissive legislation designed to encourage growth for blockchain and cryptocurrency businesses and the Designated Business Act requires all cryptocurrency business to formally register with the government and submit to inspection by the Isle of Man Financial Services Authority.
Digital currency businesses must comply with the Isle of Man's anti-money laundering (AML) laws and the government amended Proceeds of Crime legislation to cover bitcoin companies operating from the Island.
At ILS World the eGaming and digital team understand the enormous potential of the blockchain and a member of our team worked on gaining the first cryptocurrency/blockchain gambling license in the world.
Independent and objective advice
Assistance with the complex and demanding licence application
Bespoke corporate structuring
Company formation and management
Trademark and intellectual property protection
Accounting, bookkeeping and VAT
Assistance with ICOs
Provision of AML and CFT manuals.