CoinCorner recently became one of the first Designated Business title holders in The Isle of Man. As the Bitcoin company is now officially compliant with regulation, the time has come to look at what users can expect in the future.
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CoinCorner CTO Danny Scott Talks Business
We recently had a chance to ask the CoinCorner team some questions regarding the process of obtaining their Designated Business status, and what the company has planned for the future. Danny Scott, CTO of the company, took the time to answer our questions. Scott provided some more insights as to how this license was obtained, and what the future holds for CoinCorner.
Bitcoin.com (BC): Could you tell us a bit more about how the process goes to apply for Designated Business status in Isle of Man? (As in, how much paperwork is needed, how costly it is, and how long it took to get everything set up)
Danny Scott (DS): An application is made directly to the Isle of Man Financial Services Authority via their web portal and involves providing an overview of the business together with in-depth backgrounds