BackGibraltar was one of the first countries to introduce legislation specifically designed to regulate the crypto industry and it’s this regulatory framework which is helping Gibraltar find its place on the map in the crypto world.
Gibraltar’s Crypto Framework
The framework, known as the Distributed Ledger Technology (DLT) Regulatory Framework, provides a clear guide and requirements for business operating in the crypto space form the Rock. These measures ensure that business operating in Gibraltar’s crypto industry are held to the highest standards of accountability and transparency. A breath of fresh air to a growing market which has had its fair share of bad press over the past few years.
Local Legal System
The local legal system is another key factor in Gibraltar’s success as a crypto destination. As a British territory, the legal system is based on English common law, which is now for stability and predictability. An attractive option for businesses looking for a reliable and secure legal environment.
Local Crypto Companies Leaving their Mark
In recent years, Gibraltar has seen a number of crypto companies setting up shop on the Rock. One example is GSX (Gibraltar Stock Exchange) which launched its own digital securities platform in 2019. Fully regulated by the Gibraltar Financial Services Commission (GFSC) they are one of the few stock exchanges in the world to offer digital securities trading. You’ll also find Bitso, a Mexican cryptocurrency exchange which was the first to be licensed under the DLT Regulatory Framework and has since grown to be one of the largest cryptocurrency exchanges in Latin America. Covesting, Xapo, Gnosis and DAMX are other companies worth a mention based in Gibraltar, with a variety of start-ups due to launch over the coming months as Gibraltar’s popularity as a business destination grows.
Crypto Events 2023
2023 will see the third edition of the yearly Crypto Gibraltar event from the 18th to 20th October and as previous years will play host to world-renowned speakers from the world of DLT as well as from business and sport.
If you’d like to find more background on Gibraltar’s Crypto Framework DLT, you’ll find the Summit Gibraltar online webinar held in 2021 an interesting watch. Featured speakers were the Hon. Albert Isola PM, Guy Stagnetto QC, Mike Nicholls and Joe Garcia, partner at Isolas LLP who is considered one of the pioneers for virtual money regulation and DLT technology. Mediated By Anna Cherepakhova, director of Bentley Investments, you’ll find the full webinar online.
The future looks bright for crypto on the Rock and if you’re interested in exploring the possibilities – and more of Gibraltar too, hop over for a visit to discover more.
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