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| Dimension |
Pinned 🇬🇬 Guernsey partly open Verified 2026-08-15
|
🇯🇪 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 | 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. | 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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