Monday, September 25, 2023
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Gibraltar signs legislation regulating virtual assets

On Wednesday, the Government of Gibraltar announced a new set of rules to govern the country’s cryptocurrency sector. According to the official publication, the new rules and guidance notes were drafted by the GFSC and a specialised working group on market integrity.

The group includes government representatives as well as professionals in the blockchain and digital asset fields, and it was especially assembled to evaluate and craft laws and recommendations.

Gibraltar’s Financial Services Regulations now include a tenth Regulatory Principle requiring all DLT (Distributed Ledger Technology) providers operating in Gibraltar to conduct themselves in a manner that maintains or improves the integrity of the markets in which they operate.

The Gibraltar Financial Services Commission (GFSC) has also issued a Guidance Note outlining its expectations for DLT providers in this context, in keeping with the approach used for the other nine Regulatory Principles.

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Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.


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