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| Dimension |
Pinned 🇬🇬 Guernsey partly open Verified 2026-10-01
|
🇯🇪 Jersey
partly open
Verified 2026-07-02
|
|---|---|---|
| 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). | Virtual Asset Service Provider (VASP) registration, not a bespoke prudential licence. Legal basis: the Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008, the Money Laundering (Jersey) Order 2008, and the JFSC's AML/CFT/CPF Handbook, implementing FATF VASP Guidance (effective from early 2023). This is fundamentally an AML/CFT registration, without a conduct-of-business or prudential capital regime. As of mid-2026, Jersey has not introduced a dedicated substantive VASP licensing framework with conduct/prudential requirements. |
| Regulator | Guernsey Financial Services Commission (GFSC). | Jersey Financial Services Commission (JFSC). |
| Capital requirement | Guernsey capital requirement is included in the £349 pass. | Jersey capital requirement is included in the £349 pass. |
| Timeline to authorisation | Guernsey timeline to authorisation is included in the £349 pass. | Jersey timeline to authorisation is included in the £349 pass. |
| Local substance | Guernsey local substance is included in the £349 pass. | Jersey local substance is included in the £349 pass. |
| Application cost | Guernsey application cost is included in the £349 pass. | Jersey application cost is included in the £349 pass. |
| Ongoing cost | Guernsey ongoing cost is included in the £349 pass. | Jersey ongoing cost is included in the £349 pass. |
| Passporting | Guernsey passporting is included in the £349 pass. | Jersey passporting is included in the £349 pass. |
| MiCA CASPs approved | Guernsey mica casps approved is included in the £349 pass. | Jersey mica casps approved is included in the £349 pass. |
| Key restrictions | Guernsey key restrictions is included in the £349 pass. | Jersey key restrictions is included in the £349 pass. |
| Recent changes | The Lending, Credit and Finance (Amendment) Rules, 2026 were made on 9 September 2026 and took effect on 1 October 2026. They removed the blanket restriction on VASPs serving retail customers, removed the VASP-specific environmental reporting requirement, and reduced duplicate licensing for firms already regulated by the GFSC. The GFSC says work continues on stablecoins, digital custody and technology for anti-financial-crime compliance. | JFSC proposed enhancements to the AML/CFT/CPF Handbook (consultation published June 2025), taking effect 1 January 2026, including new sector-specific guidance for VASPs/DNFBPs partly in response to MONEYVAL's 2024 evaluation of Jersey. Jersey is implementing the OECD Crypto-Asset Reporting Framework (CARF): consultation began November 2024, legislation expected 2025, first CARF reporting due 2027. A government consultation (July-Sept 2025) on repealing the Control of Borrowing (COBO) framework proposes replacement legislation for digital-asset-related structures with a 12-24 month transition. In 2024 Jersey launched its first real-world-asset tokenisation platform under JFSC guidance. |
| Difficulty rating | Guernsey difficulty rating is included in the £349 pass. | Jersey 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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