Isle of Man outshines US, UK, Luxembourg and Singapore when it comes to favourable business conditions for digital currency companies
A sell-out crowd of close to 200 entrepreneurs, enthusiasts, Government and private sector representatives from around the world convened for the inaugural Crypto Valley Summit (CVS) on the Isle of Man from Wednesday 17th September to Thursday 18th September, to discuss the future of digital currencies. Leading technology entrepreneurs including the Founders of GoCoin, Steve Beauregard and Brock Pierce, the CEO of Counting House, Paul Davis, the CEO of Instabil, Jason Field, and the CEO of BankToTheFuture, Simon Dixon, addressed some of the industry’s most pressing issues, and celebrated the Isle of Man for adopting a world-leading position on digital currency.
The Isle of Man Crypto Valley Summit was the meeting place for digital currency entrepreneurs looking to create and maintain ethical and registered businesses. Over the two-day summit, international experts debated highly topical issues including: banking and card processing for bitcoin, the challenges faced by inconsistent global regulation, cybersecurity threats, the future of the payments industry, global discrepancies in VAT and taxation schemes, the link between digital currencies and e-Gaming and more.
Peter Greenhill, Director of e-Business at the Department of Economic Development, Isle of Man Government, said, “The Isle of Man is increasingly becoming a technology hub in its own right. E-Business currently accounts for 15% of the Island’s GDP. By 2020 we predict this will grow to 23%.”
“The Crypto Valley Summit further solidified our role in providing a favourable environment for high-quality businesses in the sector. Since announcing our digital currency position, over 20 companies have been set up on the Island in this sector. We welcome the announcement by BankToTheFuture that they intend to add to that number. The measures we are planning in relation to things like anti-money laundering are there to encourage innovation while helping to keep crime out, and to ultimately protect businesses and customers utilising digital currencies. We welcome those who can meet the necessary standards while also preserving the Island’s good reputation as a financial centre.”
Steve Beauregard, CEO of GoCoin and keynote speaker, said, “The Isle of Man Crypto Valley Summit (CVS) should become the industry’s go-to event for digital currency executives. In my experience speaking at worldwide bitcoin conferences, the engagement and collaboration between government, service providers and digital currency ecosystem companies at CVS was unparalleled. As one of the first international payments platforms for crypto currencies, GoCoin has evaluated many jurisdictions and we can say, without hesitation, that the Isle of Man offers many competitive advantages over the US, UK, Luxembourg and Singapore, when it comes to doing business in the sector. The Isle of Man’s value proposition includes greater open government access, talented business people, a thriving and professional-grade e-Gaming industry, government clarity and a favourable regulatory landscape.”
For a full overview of the Isle of Man Crypto Valley Summit, see here: http://www.cryptovalleysummit.com/