Blockchain & Cryptocurrency

On 12th October Gibraltar became the first jurisdiction to introduce laws to regulate firms carrying on business, from Gibraltar, using Distributed Ledger Technology (“DLT”). Limited regulation of certain DLT use cases exists in a handful of places but no other country has introduced the comprehensive regulatory framework we have set up in Gibraltar. The laws come into effect on 1st January 2018.

The Gibraltar Government and our regulator, the Gibraltar Financial Services Commission (“GFSC”), recognise that DLT is delivering innovative and transformational changes in the way the world conducts business. Those familiar with DLT will know that without the blockchain, a type of distributed ledger, Bitcoin and other crypto currencies could never exist. Gibraltar has moved quickly to embrace this technology and provide the framework for a well-regulated and safe environment for DLT business to flourish.

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