Digital Jersey has signed a Memorandum of Understanding with the world's largest cryptocurrency exchange, Binance.
The exchange has selected Jersey to further develop its global compliance base as it continues to expand its business. Key factors that attracted the exchange to Jersey include our developed digital infrastructure, robust regulatory framework, collaborative relationships and forward-thinking approach.
As digital innovation forms a key part of our jurisdictional strategy, Jersey Finance recognises the potential of distributed ledger/blockchain technology and fintech more generally for the future success of Jersey. We welcome and support constructive efforts such as this exploratory engagement with Binance to responsibly innovate in fintech, not least in the creation of new jobs which will be good news for the economy.
Jersey Finance looks forward to working closely with Digital Jersey, Government and the Jersey Financial Services Commission on the ongoing development of policy and legislative proposals to regulate distributed asset exchanges. In line with any new commercial interest in Jersey, Binance's proposal will be assessed by our key stakeholders on its ability to align with our corporate governance structure, reputational framework and digital strategy. Read more
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.