Jersey conducts public consultation on regulation of digital currencies and their technologies
The government of Jersey has opened a public consultation on whether it should regulate digital currencies such as Bitcoin. The consultation letter highlights that distributed ledger technology, known as the blockchain, is the key innovation of digital currencies. Given that the letter also states that it views the use of virtual currencies as being unacceptable, it would appear that it is laying out a point of view that might see it encourage the adoption of blockchain technology but not digital currencies, following the consultation.
Department Office of the Chief Executive Start date 09/07/2015 End date 07/08/2015 Type of consultation Other Deadline for comments 07/08/2015

About the consultation

​We want your views on how virtual currencies, eg Bitcoin, should be regulated.

Virtual currency systems can be significant building blocks of a modern digital economy. The introduction of an appropriate and proportionate regulatory regime in this area is intended to encourage confidence and innovation in the sector.

The creation of a business-friendly framework that encourages innovation, jobs and growth in both the financial services and digital sectors is a priority for the Government of Jersey.

The consultation paper sets out:

the most prominent money laundering and terrorist financing risks associated with virtual currencies

available options for regulation



approaches adopted by other jurisdictions

the views of leading organisations

the possibility of adopting a standard for ‘distributed ledger’ technology (including block-chain technology)

the possibility of potential future pan-Channel Island work

Download regulation of virt​ual currency consultation document (size 579kb)

Public meeting dates

​There will be a consultation seminar in the Town Hall, St Helier on Monday 3 August 2015 from 12 noon until 2pm.

If you want to attend, you'll need to book a free ticket.

Book your ticket to the regulation of virtual currency consultation seminar on the Eventbrite website



How to submit comments to the consultation

​We want to hear from individuals and businesses that interact with virtual currency or who are likely to interact with virtual currencies.

You can respond to the consultation paper online, in writing or by email.

Send your responses to:

Regulation of Virtual Currency Consultation

5th Floor, Cyril Le Marquand House

The Parade

St Helier

JE4 8QT

+44 (0) 1534 448839

Email George Pearmain

Complete the survey on SurveyMonkey

Responses to the consultation

​You can find a policy paper on virtual currency below.

Download policy paper on regulation of virtual currency (size 502kb)