Digital Isle of Man, an executive agency for the Isle of Man’s government, formed a global blockchain hub and regulatory sandbox.
Isle of Man News
The Isle of Man is a state and Crown dependency of the monarchy of the United Kingdom. The island is located in the Irish sea near the U.K. The island is one of the largest offshore centers in Europe and in the world due to the fact that its business sphere is very developed, as people are investing money into the all business sectors. The same is true for Bitcoin on the Isle of Man, as the island is a very favorable place for conducting cryptocurrency business. Moreover, in 2016, legislation was crafted that supports all projects related to technologies of virtual money. Besides that, Bitcoin became an official payment method as well. On the Isle of Man, blockchain is used for many purposes, such as officially directing the blockchain-based lottery, which is the first in the world to do.
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