A draft law to regulate Gibraltar’s ICOs

Europe Gibraltar Regulations

A draft law regulating Gibraltar’s Initial Coin Offerings (ICOs) is underway, according to Gibraltar Financial Services Commission (GFSC).

A senior advisor with the GFSC, Sian Jones, said that the new law will be the first in the world to regulate all aspects of digital tokens trading, including promotion, sales and distribution. According to Jones, the new framework introduces the concept of an “authorized sponsor” granting compliance with discourse rules established by the same draft law.

Under the new rules, ICO projects will be required to provide “adequate, accurate and balanced information to anyone buying tokens” said Jones.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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