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Gibraltar

Gibraltar passes a bill paving way for blockchain regulations

December 11, 2017 by Ashley MAO

A bill amending the British overseas territory’s Financial Services (Investment and Fiduciary Services) Act with the goal to “extend measures for the protection of investors to the customers of licensees carrying on controlled activities which are not investment services,” has been approved by Lawmakers in Gibraltar. The amendment paves the way for the government’s plans for blockchain technology used for storing and transmitting value.

The bill’s passage was lauded by Albert Isola, Gibraltar’s Minister of Commerce, who pointed out that Gibraltar is one of the first jurisdictions in the world to introduce a regulatory framework for blockchain businesses. “I am aware that there are a number of businesses waiting to file their applications with the Gibraltar Financial Services Commission on 1st January 2018 and this is excellent news,” he said.

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Ashley MAO, Coinlaw

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Ashley MAO is a member of the Coinlaw team. Read more about our team.

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