The Lending, Credit and Finance (Amendment) Rules, 2026 form part of the Guernsey Financial Services Commission’s Digital Finance Initiative, which aims to support innovation and position the Bailiwick as a trusted, agile and forward-thinking jurisdiction for digital financial services. The rules were made on 9 September 2026 and come into effect on 1 October 2026.
Under the amendments, firms already licensed by the commission will no longer be required to hold a separate virtual asset service provider licence in every case where they wish to undertake virtual asset activity. By cutting this duplication, the changes are intended to support innovation, lower barriers to entry, and give firms greater flexibility to establish or expand digital finance operations in Guernsey.
The changes also lift the blanket restriction that had prevented virtual asset service providers from offering services to retail customers, meaning firms licensed and regulated by the commission should now be better placed to meet growing demand for digital finance services.
It has also scrapped a separate environmental reporting requirement that applied specifically to virtual asset service providers. That requirement dated from a period when blockchain technology was more closely associated with energy-intensive models, and predates the shift towards a more flexible approach to sustainability reporting. Removing it brings the treatment of virtual asset businesses into line with firms operating under the commission’s other regulatory laws, and with developing international practice.
‘Digital finance offers real opportunities for Guernsey’s finance sector,’ said director general William Mason.
‘Our improved regulations put those opportunities within reach by removing barriers that are no longer necessary and giving well-regulated firms greater freedom to develop services that meet the changing needs of the markets they serve or aspire to serve.
‘These revisions are one element of a wider programme of work continuing through the Digital Finance Initiative. The commission has also published guidance on tokenisation and is progressing work in areas including stablecoins, digital custody and the use of technology to enhance anti-financial crime compliance. Taken together, these measures should provide businesses with a supportive framework for innovation and support technological growth in Guernsey.’
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