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| Dimension |
Pinned 🇬🇬 Guernsey partly open Verified 2026-08-15
|
🇮🇲 Isle of Man
partly open
Verified 2026-08-15
|
|---|---|---|
| Licence type | Part III VASP Licence under the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 ('LCF Law'). Covers virtual asset exchange, transfer, safekeeping/custody, administration, and issuance/ICO services. This is a genuine substantive licensing regime (not merely AML registration), which came into full effect 1 July 2023 (application window opened 1 February 2023). | No dedicated/bespoke crypto licence exists. Virtual asset/virtual-currency businesses not otherwise regulated must register as a 'Designated Business' with the Isle of Man Financial Services Authority (IOMFSA) under the Designated Businesses (Registration and Oversight) Act 2015 (DBRO Act). This is an AML/CTF registration regime only, it confers no market authorisation, conduct-of-business, or prudential status akin to a licence. |
| Regulator | Guernsey Financial Services Commission (GFSC). | Isle of Man Financial Services Authority (IOMFSA), administering DBRO Act registration (oversight of some professions may be delegated to a recognised delegated oversight body, e.g. legal/accountancy bodies). |
| Capital requirement | Guernsey capital requirement is included in the £349 pass. | Isle of Man capital requirement is included in the £349 pass. |
| Timeline to authorisation | Guernsey timeline to authorisation is included in the £349 pass. | Isle of Man timeline to authorisation is included in the £349 pass. |
| Local substance | Guernsey local substance is included in the £349 pass. | Isle of Man local substance is included in the £349 pass. |
| Application cost | Guernsey application cost is included in the £349 pass. | Isle of Man application cost is included in the £349 pass. |
| Ongoing cost | Guernsey ongoing cost is included in the £349 pass. | Isle of Man ongoing cost is included in the £349 pass. |
| Passporting | Guernsey passporting is included in the £349 pass. | Isle of Man passporting is included in the £349 pass. |
| MiCA CASPs approved | Guernsey mica casps approved is included in the £349 pass. | Isle of Man mica casps approved is included in the £349 pass. |
| Key restrictions | Guernsey key restrictions is included in the £349 pass. | Isle of Man key restrictions is included in the £349 pass. |
| Recent changes | On 24 July 2026 the GFSC published its Supporting Growth with Digital Finance feedback paper. Revised Part 10 rules are intended to take effect on 1 October 2026, permitting VASPs to serve retail customers and deleting the VASP-specific environmental declaration. Retail-facing firms must notify the GFSC and hold proportionate resources. Separate relief from dual licensing for some existing regulated firms remains proposed, with the section 40 notice consultation closing 31 August 2026. Stablecoin rules are expected in autumn 2026. | Following its 2024 consultation on a more substantive crypto licensing regime, the IOMFSA retained the current DBRO-Act registration approach for now and may reconsider it in a future policy cycle. The consolidated Isle of Man Financial Services Authority (Fees) Order 2026, following a consultation that closed on 18 December 2025 and a feedback statement on 17 February 2026, took effect on 1 April 2026 and raised most fees, including designated-business fees, by about 2.9 per cent in line with CPI. |
| Difficulty rating | Guernsey difficulty rating is included in the £349 pass. | Isle of Man difficulty rating is included in the £349 pass. |
Informational only, not legal advice. A delta compares the sortable figure only (capital, timeline, cost, difficulty, passporting, approvals); it is not a judgement on overall suitability. Verify with qualified counsel before acting.
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