Isle of Man – capital of Bitcoins?
There is a possibility that Isle of Man will become the new capital of Bitcoins. The Gambling Supervision Commission is trying to change the law in order to allow Bitcoins, as well as other forms of digital currencies, to be used on the online sites licensed by the authority.
The Gambling Supervision Commission has called for one month consultation period, which will end on 20th May 2016. The main intention is to change the current law in order to meet modern standards. As the new review stated, the Commission is planning to allow digital currencies to be accepted just like cash among other recommendations issued by the Commission.
The decision to accept Bitcoins and other digital currencies has attracted a lot of interest both locally and internationally. It is expected that the Commission will push forward the plans by the end of the consultation period. All the operators licensed by Isle of Man will be allowed to offer Bitcoins as one of the accepted currencies.
There is no particular date as for the conclusion of the topic, but experts predict that the end of 2016 is a very realistic date.
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