Request for Input – Innovation and the Regulatory Perimeter

Closed 18 Apr 2022

Opened 21 Feb 2022

Feedback updated 2 Nov 2022

We asked

We asked for views and evidence regarding the implications of expanding the regulatory perimeter to include certain activities relating to crypto-assets.

You said

We received nine responses. All respondents generally agreed that some crypto-asset businesses should be regulated. Each respondent draws the line of that potential regulatory perimeter in a different place, although in general there was some consensus that crypto-asset exchanges should be subject to some form of regulation.

The main comments received, and the Authority’s views on those comments can be found in the consultation response document attached.

We did

There are a number of substantially different regulatory regimes currently under development around the world and all are facing practical hurdles for which there is not yet a clear solution. This means that the time is not right to make firm decisions on the introduction of any regulation.

The Authority will continue, however, to maintain a watching brief on how this sector, and the international regulatory frameworks, develop and mature. Any proposed updates to the regulatory perimeter will be subject to full consultation before introduction.

Results updated 2 Nov 2022



The Authority is currently considering the issue of innovation linked to crypto-assets, which is outside of the regulatory remit at this time, and what this means for various stakeholders including the Isle of Man Government, regulators, businesses and consumers.

The purpose of this request is to develop our knowledge by seeking information and opinion from a wide range of interested parties on the implications of innovation in connection with certain activities that are currently not regulated.

Why your views matter

The information received will assist the Authority shape its understanding and inform future considerations on which activities could or should be brought within the regulatory perimeter.

What happens next

Following closure of the Request for Input period, the Authority will review the responses received and publish a Feedback Statement on the Authority’s website and the Isle of Man Government’s Consultation Hub.


  • All Areas


  • All residents


  • Finance