Gibraltar Issues Blockchain Licensing Guidance
by Amanda Banks, Lowtax.net, London
18 December, 2017
Gibraltar's Minister for Commerce, Albert Isola, recently issued guidance notes on the licensing of distributed ledger technology (Blockchain) providers, starting in the new year.
From January 1, 2018, any firm carrying on business, in or from Gibraltar, using distributed ledger technology to store or transmit value belonging to another person will need to be authorized as a "distributed ledger technology provider" by Gibraltar's financial services regulator, the Gibraltar Financial Services Commission.
Isola commented: "I am pleased to have issued these comprehensive and well-considered guidance notes today. This is another important step as we approach the launch of our distributed ledger technology regulatory framework in January 2018 and will assist new applicants and their advisers understand and inform the licensing process they will follow."
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