Pin and benchmark
Pin the jurisdiction you are leaning towards, then line up to 5 rivals against it. Every unlocked figure shows where a peer beats it or loses to it on capital, timeline, cost and difficulty, so one screen tells you whether your first choice actually holds up.
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| Dimension |
Pinned 🇬🇬 Guernsey partly open Verified 2026-07-02
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🇮🇲 Isle of Man
partly open
Verified 2026-07-02
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|---|---|---|
| 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 locked. Unlock with the £349 pass. | Isle of Man capital requirement is locked. Unlock with the £349 pass. |
| Timeline to authorisation | Guernsey timeline to authorisation is locked. Unlock with the £349 pass. | Isle of Man timeline to authorisation is locked. Unlock with the £349 pass. |
| Local substance | Guernsey local substance is locked. Unlock with the £349 pass. | Isle of Man local substance is locked. Unlock with the £349 pass. |
| Application cost | Guernsey application cost is locked. Unlock with the £349 pass. | Isle of Man application cost is locked. Unlock with the £349 pass. |
| Ongoing cost | Guernsey ongoing cost is locked. Unlock with the £349 pass. | Isle of Man ongoing cost is locked. Unlock with the £349 pass. |
| Passporting | Guernsey passporting is locked. Unlock with the £349 pass. | Isle of Man passporting is locked. Unlock with the £349 pass. |
| MiCA CASPs approved | Guernsey mica casps approved is locked. Unlock with the £349 pass. | Isle of Man mica casps approved is locked. Unlock with the £349 pass. |
| Key restrictions | Guernsey key restrictions is locked. Unlock with the £349 pass. | Isle of Man key restrictions is locked. Unlock with the £349 pass. |
| Recent changes | GFSC launched a 'Digital Finance Initiative' (DFI) in September 2025 to reposition Guernsey as a digital finance hub, including a Digital Forum for industry engagement and a consultation on stablecoins/broader digital-asset policy running until 6 March 2026. For 2026, GFSC announced fee reductions specifically for VASP applications to encourage more firms to establish in the Bailiwick, implying low uptake of the regime to date. | After a 2024 consultation on introducing a more substantive crypto licensing regime, the IOMFSA confirmed (2025) it would retain the current DBRO-Act registration approach 'for the time being', while keeping the matter under review. Separately, an industry-funded fee model phased in from 2023 is being revisited via consultation CP25-04 (issued 6 November 2025) on the proposed IOMFSA Fees Order 2026. |
| Difficulty rating | Guernsey difficulty rating is locked. Unlock with the £349 pass. | Isle of Man difficulty rating is locked. Unlock with 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.