The Weekly Briefing from The Quarry

Dig Deeper

In an exclusive three-part series for our paid members, we've covered the inaugural Guernsey Bitcoin Summit, where industry experts explored the rapidly changing relationship with Bitcoin and what needs to happen for the island to become a leading player.

• Bitcoin has evolved from an alternative to traditional finance into a globally recognised asset being integrated into the very institutional systems it was designed to replace
• The Guernsey Bitcoin Summit heard how major institutions, sovereign funds, and countries from Bhutan to the US are establishing strategic relationships with Bitcoin
• Albert Climent of Oneblock Holdings outlined Bitcoin's value proposition: scarcity with a 21 million cap, portfolio diversification, settlement efficiency, and unprecedented auditability
• Guernsey could become a 'structured, compliant reserve layer jurisdiction' by building institutional-grade custody frameworks and Bitcoin-denominated investment vehicles
• While volatility, regulatory uncertainty, and operational complexity exist, speakers argued that ignoring Bitcoin in today's world may be the greater risk for jurisdictions

• Experts argue Guernsey should integrate Bitcoin into its world-leading corporate service provision, with treasury companies seen as a key growth area over the next five years.
• Bitcoin has undergone a 'flight to legitimacy' with major asset managers launching ETFs, making regulatory approval significantly easier than five years ago .
• Bitcoin's volatility is decreasing as it moves down the volatility league table, now less volatile than Tesla or Nvidia, with adoption by institutional investors expected to further dampen price swings.
• Digital assets including Bitcoin are solving cross-border payment problems in emerging markets like Cameroon, reducing transaction times from 90 days to under 30 minutes.
• Industry leaders recommend jurisdictions leverage existing strengths by adding Bitcoin layers to established services, positioning themselves as world leaders in Bitcoin versions of their specialties.

• Guernsey needs to adapt its banking, legal, and regulatory systems for Bitcoin to become a staple part of the island's financial offering, according to experts at the Guernsey Bitcoin Summit
• Key blockers include lack of experience, industry precedent, and infrastructure challenges
• Banks freezing accounts and slow court proceedings contradict Bitcoin's promise of frictionless, 24/7 trading, creating friction for users seeking seamless transactions
• Industry leaders call for a Guernsey-based custodian to hold digital assets and clear government policy implemented at pace to signal the island is open for Bitcoin business
• The island's principles-based regulatory approach and consultative community are seen as advantages, with the GFSC's willingness to engage with industry praised as unusual among regulators

Dig This - a podcast for Guernsey by The Quarry

We were delighted to partner with the Guernsey Literary Festival for this special episode with leading sports presenter Vassos Alexander.

Vassos is well known from his time at the BBC, Virgin Radio and now through the freshly launched Track Radio.

He is also an endurance athlete always hunting for different ways to get out of his comfort zone.

We met at La Vallette Bathing Pools to discuss his latest book, Swimmingly: Adventures in Water, his background, motivation and what comes next.

Swimmingly charts his preparation to swim the English Channel and introduces us to swimming communities and characters around the world, including bringing to prominence the remarkable impact of Lynne Cox on the Cold War.

In other news...

• Deputy Gavin St Pier and his wife Jane were arrested Friday on suspicion of misconduct in public office and an offence under the 1948 Reform Law, their second arrest since December in a probe linked to their campaign about paediatric services.
• St Pier resigned from Policy & Resources Committee on Saturday and immediately announced he would stand again for the seat, but P&R confirmed he will not be the committee's preferred candidate.
• First-term Deputy Haley Camp has announced her intention to run for the vacant P&R seat, with Deputy Marc Laine also mentioned as a potential contender; the earliest vote can occur May 20.
• Questions have been raised about why St Pier resigned from P&R but remains on the States Assembly and Constitution Committee, which oversees member conduct rules.

• GradRoutes Guernsey hosting webinar to address housing concerns raised by graduates and students
• Survey found 38.2% cited housing costs and availability as factor in not returning to island
• Over 200 graduates and students responded to 'Return to Guernsey' survey
• Deputies from Economic Development and Housing committees will discuss their vision
• Event takes place at 6pm on 19th May, registration available through Eventbrite

• Two puffin awareness buoys have been deployed near Herm to remind mariners of the 6-knot speed limit and protect rafting puffins
• Rotary Guernesiais sponsored the purchase of new buoys after previous ones were damaged by heavy storms
• The initiative is a joint effort between ACLMS and Guernsey Ports to safeguard the internationally significant bird species during breeding season
• Puffins return annually to Herm, a Ramsar site, to mate for life and raise offspring in the same burrow
• Disturbance to rafting puffins forces them to expend extra energy, reducing survival chances and breeding success

• Premier League and Barclays WSL trophies will visit Guernsey for two days later this month
• Public viewing at Barclays branch on St Julian's Avenue on Friday 29 May from 10:00am
• Free youth 6-a-side football tournament at Victoria Park on Saturday 30 May from 9:30am to 4:00pm
• Event organised by Barclays, a founding partner of Victoria Park
• Organisers hope the visit will inspire the next generation of local footballers

• Ross Le Brun won the by-election, securing 953 votes in a race with 11 candidates and just 17.32% voter turnout
• Le Brun defeated runner-up Carl Meerveld by 62 votes, with results delayed due to discrepancies between declared and counted ballots
• Housing is his key priority, calling for the States to resume building homes directly rather than relying solely on private developers
• He advocates creating a new market of 'starter homes' to bridge the gap between high rents and expensive homeownership
• Le Brun aims to join a committee, potentially Employment & Social Security where he previously served as a non-voting member

• Registration opens for the 50th Skipton Swimarathon, taking place 7-11 October 2026 with Les Bourgs Hospice as main beneficiary
• New Salty Swimarathon added at La Vallette bathing pools alongside traditional Beau Sejour event to broaden participation
• Last year's event saw more than 1,700 swimmers raise £68,500 for local causes
• Event has raised over £2,000,000 for local good causes since first Swimarathon in 1977
• Organised by Guernsey Round Table and Lions Club of Guernsey, sponsored by Skipton International since 2010

• Scrutiny Management Committee launches consultation on States of Guernsey investment governance
• Review follows creation of States Investment Board and significant changes to investment supervision
• Government bodies and interested parties invited to submit evidence by 1st June 2026
• Deputy Sloan says governance of substantial public funds too important to leave unfinished
• Public hearings may be held following consultation to clarify evidence submitted

• Deputy David Dorrity has resigned from the Committee for Employment & Social Security, citing frustration over lack of progress on savings
• Deputy Dorrity established the ESS Savings Working Group earlier this year to identify opportunities to reduce expenditure
• He says members have faced an uphill battle with a lack of willingness to make difficult decisions necessary for long-term sustainability
• Committee President Deputy Tina Bury expressed disappointment and thanked Deputy Dorrity for his contribution, particularly his pensions expertise
• Deputy Bury says the savings working group has identified around 30 potential actions but emphasises the need for thorough consideration of consequences

• Development & Planning Authority publishes preliminary list of seven sites proposed for affordable housing allocation
• Sites include Selbourne Vinery, Regency Vinery, School Lane Vinery, Whispers, Les Caches Farm, Two Acres and Route Carre
• Announcement follows yet to be published independent planning inspector's report after public hearing earlier this year
• DPA writing to site owners for development plans before final decision and States debate
• States will debate proposed Island Development Plan changes in autumn and make final decision

This week's audio briefing

The Weekly Briefing from The Quarry

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Guernsey Gazette

Torteval Parish residents will vote on May 13, 2026 to approve £50,741 in local taxes and £61,000 in refuse collection charges.

Forest Parish residents will vote on May 13th to approve £72,287 in owners' rates and £97,500 in refuse rates for 2026 parish services.

SALT Craft Beer and Coffee Company Limited has applied for a licence with a hearing scheduled for May 19, 2026.

GFSC notices

Commission showcases innovation‑friendly Sandbox approach

Mrs Margaret Helen Hannis

The Commission paves the way for smarter use of technology in compliance