Guernsey places VASPs under a Part III licensing regime covering exchange, transfer, custody, administration and specified token-offer services.
Current state: Part III VASP licensing regime in force from 2023-07-01
Acteffective
Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 — Part III
Guernsey Guernsey Financial Services Commission
Overview
Key Details
Jurisdiction
GuernseyRegulator
Guernsey Financial Services Commission
Law Type
Act
Status
In ForceOfficial Law Number
LCF Law 2022, Part III
Official Title
Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 — Part III
Effective Date
July 1, 2023
Publication Date
July 14, 2022
Last Verified
August 26, 2026
Topics Covered
Who This Law Applies To
VASPs operating in or from the Bailiwick, including exchanges, transfer and custody businesses, token-service firms, controllers and customers.
Key Requirements
Key Requirements
GFSC licence before business; fit-and-proper ownership and management; local governance; AML/CFT; customer-asset and technology controls; advertising rules; records, reporting, inspection and enforcement.
Licensing & Registration
Authorization rule: GFSC licence before business.
AML/CFT
AML/CFT duties are material; consult the instrument and current implementing rules for scope, thresholds and filing mechanics.
Custody & Safeguarding
Customer-asset, segregation, key-security or custody controls are within scope; verify detailed regulator rules.
Disclosure & Marketing
No dedicated marketing code is the primary focus; ordinary consumer and advertising law may still apply.
Market Integrity & Enforcement
Regulator: Guernsey Financial Services Commission.
Tax Treatment
Not a tax code. Tax consequences depend on taxpayer, asset and transaction under the jurisdiction's current tax law.
Related Laws
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