Gibraltar passes a bill paving way for blockchain regulations

Blockchain Europe Gibraltar Regulations

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.

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].

Leave a Comment

Coinlaw Newsletter

Whether you are a law firm, founder gearing-up for a token offering, or a crypto currency trader, subscribe to the biggest crypto legal newsletter to be informed of the latest developments in each and every jurisdiction