Regulatory Alerts2026-07-24
Added · Updated
Feedback Paper on Supporting Growth with Digital Finance
The Guernsey Financial Services Commission amends the Lending, Credit and Finance Law to restrict Virtual Asset Service Provider licensing to activities conducted for and on behalf of other persons, thereby excluding individuals trading on their own behalf. The Commission deletes LCF Rules 10.1(1) and 10.2(1), allowing existing licensees to conduct VASP activities without a dual license and permitting services to retail customers. Additionally, the specific environmental reporting requirement under Rule 10.3 is removed, and misleading guidance regarding digital representations of fiat currency is deleted to clarify regulatory scope.