October 14 2017
Gibraltar’s financial regulator first in the world to draft a comprehensive regulatory framework (pdf) for distributed ledger technology (DLT). The British Overseas territory published the landmark regulation on October 12 and is expected to take effect from January 18, 2018. Gibraltar is reinforcing its brand as a financial center by fostering a friendly business environment for blockchain startups.
The new rules encompass DLT uses cases in the commercial space, specifically, storage and value transmission. The framework defines value broadly to include “assets, holdings and other forms of ownership, rights or interests.” Investment services relating to cryptocurrency would, therefore, fall under this definition.