“As recent events have shown, there is a need for sensible consistent regulation of crypto markets around the world. The sooner we get such regulations the safer these markets can be, and the sooner they can flourish”
John Garvey, Global Financial
Services and Digital Assets Leader
PwC LLP
The need for the regulation of cryptocurrencies has become more apparent in the current market downturn. The existence of a reputable regulatory framework is seen as a requirement to protect consumers’ financial assets as well as creating a safer market overall.
Gibraltar was ahead of the curve when it came to the regulation of digital assets with Gibraltar’s purpose-built Distributed Ledger Technology (“DLT”) framework coming into effect in January 2018.
This “principle-based” framework positions Gibraltar as a leading, crypto-friendly jurisdiction by facilitating innovation for novel business activities and models in this space, while ensuring it continues to protect the consumer through effective AML and KYC checks.
A recent report by PwC highlighted that Gibraltar meets all the requirements when it comes to crypto regulation. The full report can be viewed here.
For further information on setting up or building your crypto business in Gibraltar contact: tsn@tsnlaw.com
