Gibraltar Regulator Grants License To Local Crypto Exchange
The Gibraltar Blockchain Exchange (GBX) has obtained a license for operation from the country's regulatory authority, according to the company’s blog.
The GBX launch took place in the summer of 2018 at the initiative of the Gibraltar Stock Exchange (GSX), which announced its plans to enter the crypto market last fall, striving to “become the world’s first nationally regulated digital asset marketplace and ecosystem”.
The GBX is now licensed as a provider of Distributed Ledger Technology by the @gibfsc, a significant milestone for #crypto, making the GSX Group the first regulated stock exchange group to also own and run a regulated #blockchain exchange. #CryptoHarbour https://t.co/Dtx0SJCPi4— GB Exchange (@GibBlockEx) 22 ноября 2018 г.
GBX will operate as a fully licensed blockchain technology provider within the rules of the country’s Financial Services Commission, as follows from the company’s statement.
Currently, there are six digital assets in the listing of the crypto exchange, including bitcoin, ether, and the platform’s RKT token. The assets are traded in pairs with the US dollar, but it is planned to add other fiat currencies to the listing in the near future.
Gibraltar, the British Overseas Territory, is known for its loyalty to the sphere of cryptocurrencies and blockchain. Back in February 2018, the government decided to develop a draft law on the regulation of initial coin offering (ICO). One of the fundamental points of the normative act is the concept of so-called “authorized sponsors” responsible for providing accurate information on ICO projects.
As previously reported, NYDIG Execution has obtained a license for crypto-related activities from the New York State regulator.