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Government of Jerseygov.je

Information and public services for the Island of Jersey

L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

CBDCs and digital wallets (FOI)

CBDCs and digital wallets (FOI)

Produced by the Freedom of Information office
Authored by Government of Jersey and published on 07 December 2022.
Prepared internally, no external costs.

Request 

Please can you advise the government's position on CBDC's and digital wallets for Jersey?

Response 

There is no central bank in the Bailiwick of Jersey and the Government has not formed a policy position on Central Bank Digital Currencies.

The Government is currently forming its policy towards digital wallets from a financial crime perspective in line with Financial Action Task Force (FATF) Standards, including bringing Virtual Asset Service Providers (VASPs) in scope for anti-money laundering (AML) and countering the financing of terrorism (CFT) requirements through the Proceeds of Crime Amendment No. 6 which was adopted by the States Assembly on 31 March.

Proceeds of Crime (Amendment No. 6) (Jersey) Law 2022 (jerseylaw.je)

The Government continues to consider global best practice in this area and will develop both its AML/CFT regime and wider policy towards VASPs as appropriate.

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