ISLE OF MAN GUIDANCE: WOULD A PARTICULAR USE, OR NATURE, OF A CRYPTOASSET OR TOKEN REQUIRE A BUSINESS TO BE REGULATED FOR FINANCIAL SERVICES OR REGISTERED AS A DESIGNATED BUSINESS

On 18 September, the FSA in the Isle of Man published guidance which it says is aimed at assisting readers to determine whether the particular use, or nature, of a cryptoasset or token may require a business to be regulated for financial services or registered as a designated business.  Also provided is a set of FAQ

https://www.iomfsa.im/fsa-news/2020/sep/guidance-cryptoasset-token-activity-and-regulation/

Click to access regulatory-perimeter-faqs.pdf

Click to access regulatory-perimeter-for-tokens.pdf

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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