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Cryptocurrencies have surged in value in recent years. Corporate Services Director, David Carswell, explains why Jersey is paving the way when it comes to creating some structure around this new and exciting currency.
The value of Bitcoin rose more than 1000% in 2017. And within the first half of 2018, blockchain start-ups raised over $12billion through Initial Coin Offerings (ICOs), which is almost four times that raised during 2017. With the growth of cryptocurrencies, investors are increasingly looking for exposure in this space.
However, investing and trading in cryptocurrencies does come with risks and regulatory considerations. Cryptocurrency exchanges have often been perceived as risky due to, amongst other things, the danger of hacks and the often unregulated nature of trading on these exchanges. As a result there has been a drive to bring regulated financial products into this market.
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