[2014-07-11] BBC: Jersey approves first regulated Bitcoin fund

[LiteCoinGuy]

Jersey approves first regulated Bitcoin fund

The Global Advisors Bitcoin Investment Fund (GABI) has been certified by the Jersey Financial Services Commission to run from 1 August.

Daniel Masters said Jersey's regulatory system meant major investors, such as pension and insurance companies, could invest in Bitcoin for the first time.

...

"For institutions there are no options right now," he said.

"This is institutional strength and it's an absolute world first."


http://www.bbc.co.uk/news/world-europe-jersey-28247796

[Mr Tea]

Jersey loves avoiding paying taxes lol.

[yatsey87]

They really do  . It's good to know that they got the go ahead. I remember reading a few articles a while back that mentioned Jersey could become a hub for bitcoin activity due to it's tax heaven situation. I'm sure there will be lots more bitcoin businesses getting involved with Jersey over the year.

[LiteCoinGuy]

They really do  . It's good to know that they got the go ahead. I remember reading a few articles a while back that mentioned Jersey could become a hub for bitcoin activity due to it's tax heaven situation. I'm sure there will be lots more bitcoin businesses getting involved with Jersey over the year.

yeah, that was only 2-3 weeks ago 

[yatsey87]

They really do  . It's good to know that they got the go ahead. I remember reading a few articles a while back that mentioned Jersey could become a hub for bitcoin activity due to it's tax heaven situation. I'm sure there will be lots more bitcoin businesses getting involved with Jersey over the year.

yeah, that was only 2-3 weeks ago 

Was it? Seems like longer than that. I think time moves fast in cyrptoworld. Can;t believe half a year has gone by already. I thought bitcoin would be twice the price it is now and have twice the merchants, though I think we're getting their slowly but surely on the merchant front.

[LiteCoinGuy]

They really do  . It's good to know that they got the go ahead. I remember reading a few articles a while back that mentioned Jersey could become a hub for bitcoin activity due to it's tax heaven situation. I'm sure there will be lots more bitcoin businesses getting involved with Jersey over the year.

yeah, that was only 2-3 weeks ago 

Was it? Seems like longer than that. I think time moves fast in cyrptoworld. Can;t believe half a year has gone by already. I thought bitcoin would be twice the price it is now and have twice the merchants, though I think we're getting their slowly but surely on the merchant front.

crypto-time is 10times faster 

the ecosystem needs time to grow. lets be patient.

[nwfella]

This is great news!  As more and more of these bitcoin islands of paradise pop up more and more bitcoin-oriented businesses will start leaving the stricter regulatory geographies for virtual paradises across the world.

[ThomasCrowne]

I think I remember reading somewhere that Bali was considering adopting policies along similar lines to Jersey.

[CryptInvest]

Excellent news! Little appreciation goes Naver against this background