Nov 27 - Gibraltar Blockchain Exchange Awarded DTL Licence
The Gibraltar Blockchain Exchange (GBX) was awarded a full Distributed Ledger Technology (DLT) licence by the Gibraltar Financial Services Commission (GFSC).
The awarding of the licence follows completion of a rigorous application process and means that the GSX has become the first stock exchange to own a fully regulated blockchain exchange.
Gibraltar’s Minister for Commerce, Albert Isola, said: “The awarding of this licence is further evidence of the effective collaboration taking place between the public and private sectors in Gibraltar that is making this jurisdiction a force to be reckoned with in the global blockchain industry. The DLT regulatory framework continues to provide a road to market for quality companies like the GBX, while also providing them with the flexibility to continue to innovate with this technology.
“The team at the GBX have shown a clear understanding of the nine regulatory principles outlined in the legislative framework and a commitment to building a sustainable blockchain ecosystem here in Gibraltar. They have been strong advocates of sensible regulations for the blockchain industry and today’s announcement is vindication of that supportive attitude.”
A spokesperson said: "The GBX is now fully compliant with Gibraltar’s DLT legislation, a purpose-built legislative framework for businesses that use blockchain or DLT, introduced in January of this year. Gibraltar’s principles-led approach facilitates thorough and swift engagement between businesses and regulators while also allowing flexibility for guidelines to evolve alongside the blockchain sector.
"The GBX aims to position itself as a world-leading institutional-grade token sale platform and Digital Asset Exchange that is a subsidiary of the Gibraltar Stock Exchange (GSX), which is a European Union (EU) regulated stock exchange. The GBX is expected to be a global listing and token sales springboard for utility tokens that have satisfied a strict due diligence and admissions process as well as a high-quality Digital Asset Exchange. In this regard, the GBX intends to set a higher standard for token issuance and trading for the benefit of all market participants."
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