Thursday, 5 May 2016

CoinCorner Achieves Designated Business Status [PRESS RELEASE]

Press Release - Thursday 5th May 2016

CoinCorner Achieves Designated Business Status

British bitcoin exchange CoinCorner has announced today that it has been awarded Designated Business status in the Isle of Man.

The title, granted by the Isle of Man Financial Services Authority (IOMFSA), took effect on Wednesday 4th May 2016 after CoinCorner successfully applied to become a Designated Business, following the introduction of The Designated Businesses (Registration and Oversight) Act last year.

The Designated Business Act

The Act came into force on 26th October 2015, after a proposal was put forward to place responsibility on the IOMFSA for the oversight of the adherence of certain businesses and professions to the Island’s anti-money laundering and countering the financing of terrorism legislation.

With the Isle of Man’s acceptance of bitcoin-friendly businesses well documented, Designated Businesses now also include those in “the business of issuing, transmitting, transferring, providing safe custody or storage of, administering, managing, lending, buying, selling, exchanging or otherwise trading or intermediating convertible virtual currencies, including crypto-currencies or similar concepts where the concept is accepted by persons as a means of payment for goods or services, a unit of account, a store of value or a commodity.”

Talking about the importance of becoming a Designated Business, Duncan Hughes, Senior Developer at CoinCorner, said:

This is great news for everyone - ourselves, our customers and the bitcoin industry. Trust is an important part in this industry and we feel that by becoming a Designated Business, it verifies the legitimacy of our business. We want our customers - old and new -  to know that they can trust us, our products and services.” 

For more information about the Designated Businesses (Registration and Oversight) Act 2015, please visit:

About CoinCorner

CoinCorner Ltd is an Isle of Man based bitcoin exchange and wallet provider, whose aim is to increase the global adoption of crypto-currency by providing easy to use technological solutions. The company is currently speaking with investors to help continue their expansion.

Daniel Scott, CoinCorner Co-Founder


  1. This comment has been removed by a blog administrator.

  2. Simple Application Process. While a borrower's absence of breakthrough individual budgetary data would nullify or if nothing else postpone endorsement for an institutional home loan, it ought to have no impact on the capacity to acquire a private home loan web

  3. With Instagram a lot of people become famous.

  4. Strategy Number Two for converting the rejected commercial real estate loan into an approved business loan: Commercial borrowers will never have this reason to worry about if they have applied for a "Stated Income" commercial mortgage loan.
    post filing bankruptcy

  5. Superbly written article, if only all bloggers offered the same content as you, the internet would be a far better place..
    QuickBooks in Key West

  6. Such exchanges bring about expanding creditor liabilities of the business which are to be paid after a specific day and age. 13d

  7. The Administrator of the Small Business Administration may acknowledge any accessible guarantee, including subordinated liens, to secure loans made under this area. strategic capital

  8. To a regular guy, a credit union doesn't seem much different from traditional financial institutions. business funding in denver

  9. A wide range of sorts of courses are accessible either on the web or at a predefined area.home page

  10. Since they need relatively few documents from you and zero collateral, obtaining a loan from a legal moneylender is quicker and more efficient than getting a loan from a bank Loan Advisor….