Cryptocurrency Q&A
Are cryptocurrencies regulated in Jersey?
Are cryptocurrencies regulated in Jersey?
Valentina
Wed Jul 17 2024
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7 answers
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Inquiring minds want to know: is there a regulatory framework surrounding cryptocurrencies in Jersey? With the rapidly evolving landscape of digital assets, it's essential to understand if Jersey has established policies or oversight mechanisms to govern the use and trading of cryptocurrencies. Do investors in Jersey have to adhere to specific rules or guidelines when engaging with crypto? Are there any safeguards to protect consumers from potential risks? The answers to these questions are crucial for those considering entering the crypto market in Jersey.
7 answers
Andrea
Fri Jul 19 2024
In Jersey, the regulatory framework surrounding the sale of Bitcoin and other cryptocurrencies remains relatively undefined.
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Sofia
Thu Jul 18 2024
As a result, businesses engaging in such activities are required to adhere to a set of principles and best practices outlined by the JFSC.
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CryptoLegend
Thu Jul 18 2024
Among these principles is the need for robust risk management, customer protection measures, and transparency in business operations.
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Ilaria
Thu Jul 18 2024
Unlike many jurisdictions, there is no specific securities law or commodities law that directly governs the sale of these digital tokens.
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BitcoinBaroness
Thu Jul 18 2024
Instead, the Jersey Financial Services Commission (JFSC) has adopted a broader approach, treating transactions involving digital assets and cryptocurrencies as a "sensitive activity" under its Sound Business Practice Policy.
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