Guernsey Submit plan for cryptocurrency stamps scrapped

Guernsey Submit has known as off the deliberate launch of cryptocurrency stamps after considerations have been raised by the monetary regulator.

It mentioned the stamps didn’t meet the necessities of the Lending, Credit score and Finance (Bailiwick of Guernsey) Regulation 2022.

The postal service mentioned the Guernsey Monetary Providers Fee thought-about the gathering to be a digital asset.

That includes Billy and Nanny the golden Guernsey goats, the gathering was initially attributable to be launched on 24 July.

Guernsey Submit mentioned the stamps would as an alternative be launched as a miniature sheet containing two conventional postage stamps.

Boley Smillie, chief government of Guernsey Submit mentioned: “Our proposed crypto stamps have been thought-about to be a digital asset by the Guernsey Monetary Providers Fee and meaning they might be unlikely to licence Guernsey Submit for the sale of one of these product.

“Sadly, this opinion was not per the authorized recommendation that we obtained on the matter, however now we have chosen to launch the Guernsey goat stamps otherwise.”