As of January 1st 2018, Gibraltar's widely-publicised regulations on Distributed Ledger Technology came into effect, bringing some much-welcomed regulatory oversight to the DLT and crypto sphere.
This ground-breaking piece of legislation is a milestone for the crypto industry and has already started attracting interest from both investors and DLT operators throughout the world.
While drafting the legislation the regulators decided to opt for a "light touch" approach; providing solid regulatory oversight while, at the same time, being ever-mindful of the need for continued innovation in the fast-moving crypto space. Underpinning this regulatory approach are the Nine Core Principals of Gibraltar's DLT regulation:
- Honesty and Integrity
- Customer Care
- Risk Management
- Protection of Client Assets
- Corporate Governance
- Cyber Security
- Financial Crime
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.