ICOs

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The British Virgin Islands’ fintech revolution

The British Virgin Islands’ fintech revolution

By Phillip Graham, Partner, Harneys – The BVI is reportedly the second biggest cryptocurrency market in the world, according to statistics published by CoinShares, which used data collected from the 15 biggest cryptocurrency exchanges and concluded that the BVI had a trading volume in crypto assets valued at USD78.5 billion, in the first six months of 2018. This puts it just USD5.3 billion behind the USA. We also noted in a recent PwC report that two of the three largest Initial Coin Offerings (ICOs) have also been domiciled in the BVI.

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BVI expects crypto assets to provide growth tailwind

BVI expects crypto assets to provide growth tailwind

When Hurricane Irma, a Category 5 storm, struck the BVI on Wednesday, 6th September 2017, it had a devastating impact, wiping out critical infrastructure and denying inhabitants any electricity supplies for six months. It was a moment of collective grief, but the BVI’s resilience and collective spirit shone through. In short, its response was as strong and as focused as the storm that bore down that day.