Guernsey news: Plans to make Bitcoins, compliments from Shanghai and e-gaming regulation agreement with Malta

Alderney plan to lead the way on Bitcoins: “Plans to capitalise on virtual currency in Alderney could see the island become the world’s first jurisdiction to make bitcoins.

The idea of turning electronic cash into something tangible is still in the discussion stages.

The idea would see holders travel to the island to redeem the gold coins.

It would also provide a boost for the tourism industry too.”(sic) (via channelonline.tv.The island of Alderney is part of the Bailiwick of Guernsey).

Island’s quality recognised by Shanghai vice mayor: Vice mayor of Shanghai Tu Guangshao “voiced his support for Guernsey as a well-regulated, compliant and cooperative international finance centre, recognising the island’s ‘great achievements in financial regulation and development’, during meetings in Shanghai last week with a delegation from Guernsey.” (via thisisguernsey.com)

Alderney and Malta sign e-gaming MoU “Alderney and Malta have signed a memorandum of understanding to bring the islands’ e-gaming regulators closer together. The islands have been in discussions for some time and said that the agreement would ‘set new standards in the setting up of business-friendly environments’.”

According to the Guernsey government website “E-gaming has been a major success story for Guernsey over recent years as, alongside the world-leading regulatory regime in the neighbouring island of Alderney, internet gambling and gaming businesses often choose to locate their servers in Guernsey. This provides an excellent package of benefits covering regulatory, technical and fiscal areas.”

In July 2012 the Guardian reported on the Alderney e-gaming industry, including a case in which an Alderney-registered online poker site was shut down for operating illegally in the US and left USD 350 million missing from player accounts.

Guernsey (population 65,000) is ranked 15th on the 2013 Financial Secrecy Index.

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