Answer ... With Gibraltar’s expanding financial services industry paving the way for domestic and global fintech businesses alike, the jurisdiction has positioned itself as a receptive, globally recognised jurisdiction for fintech players, and particularly distributed ledger technology firms, promoting innovation within the industry while ensuring consumer protection. Undoubtedly, the outlook is positive.
When considering future developments, the government of Gibraltar has been open regarding its intentions to expand regulated activities within the jurisdiction, more specifically by enacting Token Offering Regulations which would focus on three key aspects:
- the promotion, sale and distribution of tokens;
- the operation of secondary market platforms trading in tokens; and
- the provision of investment and ancillary services relating to tokens.
With the Token Offering Regulations operating as a set of standards for initial coin offerings and initial token sales to be better tailored to issuers’ needs in terms of structure, investor confidence should be boosted through the implementation of robust standards, which should help to maintain the credibility of the jurisdiction.