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Isle of Man Welcomes Cryptocurrency

Isle of Man Welcomes Cryptocurrency

Isle of Man is a small British island that is well known all over the world, for their licensing of the biggest poker, casino and sports betting sites in the world. Now it seems that they want to take over the cryptocurrency industry as well, as they have just announced that there is no need for licensing to operate there.

If the Isle of Man could become the hub of cryptocurrency in the Europe, it would leave plenty of space to do the correct framework and long term create licenses that could work similar to those of the gambling industry. Doing so would help stabilize the cryptocurrencies as well as to ensure that Mt.Gox scandals would not be able to happen again.

Isle of Man is also a great place for cryptocurrency companies, based on their low tax and their world class DDoS protection. Due to these facts, upwards of 15 of the bigger crypto exchanges are considering moving their operations to Isle of Man, as it would make a lot of sense business wise and security wise for them.

On April 1st there will be a meeting between 30 people from Isle of Man, who has an interest in Bitcoins and other cryptocurrencies. They will talk about how they can work together in their respective sectors and establish the best possible playground for Bitcoin companies and exchanges. 

News by Daniel Allermand
Daniel Allermand - Reporter

Daniel Allermand is a freelance writer, with more than 4 years of experience in the industry as an operator, affiliate and poker player. Daniel has decided it was time to try and bring more coverage about the industry to the general public by writing articles about everything from poker to casino.


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