Isle Of Man - shifting stance on Bitcoin FinTech

Ondago

newbie

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Quote from: BlockShame on September 17, 2014, 08:43:34 AM

There's a reason why PokerStars HQ is in Isle of Man and it ain't for the weather. Wink

And there's a reason why Pokerstars currently doesn't accept users from the USA. Exchanges open to Americans will have to comply with American rules, that's for sure.

Jeramom

newbie

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Quote from: BlockShame on September 17, 2014, 08:43:34 AM

There's a reason why PokerStars HQ is in Isle of Man and it ain't for the weather. Wink

Sure as hell aint for the weather.... the saying on the island is "We have two types of weather; Cold/Wet & Cold/Wet/Windy"

grifferz

full member

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Quote from: pikabit on September 19, 2014, 12:51:16 PM

I wonder how it would be living in one of these remote islands

What remote islands? Isle of Man isn't particularly remote (less than 3 hours by boat from England or Northern Ireland), and has a reasonably high population density or relatively wealthy people. Unless you meant one of the tiny mostly uninhabited islands in the group.

gentlemand

legendary

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Welt Am Draht

It shouldn't be a surprise to anyone. The payment processor may have been IoM based but they were still dependent on UK banks who resolutely refuse to play ball.

I don't know if there's a truly independent bank on the Isle of Man but that's what'll be needed to truly get anywhere.

pikabit

member

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Merit: 10

I wonder how it would be living in one of these remote islands

bitcoinbear

hero member

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This suggests a passive allowance status, i.e. "it's not forbidden." More inviting would be an active allowance from a statute or court ruling. It's still good news, but we should make the distinction.

hennessyhemp

hero member

Activity: 511

Merit: 500

Hempire Loading...

This is the kind of news we need to free-fall right into a thermal up-draft.

One bank says, "no, your better system confuses me"...then another says, "We're happy to take your millions, come right in, we even understand your new, improved system and want to adopt and integrate it!".

To the moon!

yunkie

member

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Merit: 10

Isle of Man is a place where rich people avoid taxes, of course they are going to hate bitcoin.

niothor

hero member

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in defi we trust

Quote from: john641 on September 17, 2014, 05:47:24 AM

Fantastic news if the IoM will offer banking services (GBP accounts) to UK bitcoin companies too. That is the No.1 way they can help.

Have you read the article?

BITCOIN TUMBLES: BANKS SHUT DOWN BITCOIN IN ISLE OF MAN

What is so fantastic in the news that you are that happy?

BlockShame

newbie

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There's a reason why PokerStars HQ is in Isle of Man and it ain't for the weather. Wink

john641

full member

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Fantastic news if the IoM will offer banking services (GBP accounts) to UK bitcoin companies too. That is the No.1 way they can help.

RockHound

full member

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Yeah, hopefully minimal impact short-term.

I know some good people who invested significantly to start-up BTC enterprises there - this is terrible news for them : (

CTS was very postive regarding the protocol as a financial instrument up until today:

http://www.coindesk.com/isle-man-welcomes-digital-currency-exchanges-license-required/

http://www.coindesk.com/new-conference-highlight-isle-mans-growing-bitcoin-economy/

gjgjg

sr. member

Activity: 448

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probably some sell off from affected people, but pretty minimal impact i think.

boycott hsbc, rbs and bangladesh!

RockHound

full member

Activity: 224

Merit: 100

Just in:

http://www.cryptocoinsnews.com/bitcoin-tumbles-banks-shut-down-bitcoin-in-isle-of-man/

Also some governmental statement in Bangladesh today; possibly affecting current price index?

Topic: Isle Of Man - shifting stance on Bitcoin FinTech (Read 1406 times)