Category Archives: Gibraltar

Auto Added by WPeMatico

Gibraltar Stock Exchange Subsidiary Seeks Regulated Blockchain Exchange

A subsidiary of the Gibraltar Stock Exchange (GSX) is aiming to become one of the first licensed and regulated crypto exchanges operated by an EU stock exchange.

The company, the Gibraltar Blockchain Exchange (GBX), has reportedly introduced 300 retail account holders to its platform as part of its launch. The company has suggested that in order to monitor and develop how to present the best user experience for its future customers, the invited retailers will be asked to offer feedback after the launch.

It plans to serve institutional cryptocurrency investors at start up, with CEO Nick Cowan suggesting that the platform will be “fair, transparent, efficient, and safe”.

Gibraltar aims to lure new and existing fintech companies to its shores, following in the footsteps of other European countries such as Malta and Switzerland, both of which have seen the arrival of major cryptocurrency players like Binance and Bitmain in recent months.

The 2nd Gibraltar International FinTech Forum held earlier this year, with another ‘Gibfin’ forum to follow in September 2018, demonstrates the country’s serious intent when it comes to encouraging fintech companies to do business there.

According to GBX, it has already enacted distributed ledger technology (DLT) legislation to provide a worldwide jurisdiction for crypto companies, suggesting it wants to lead the world in technology regulation. The new legislation states that any firm in Gibraltar using DLT to store and transmit value is regulated in the country by default. Cowan adds:

“The soft launch of the platform will mean that we can continue as effectively as possible toward providing an institutional-grade token sales springboard for utility tokens and top-quality digital asset exchange for the global blockchain and trading communities.”

The company’s aim to become the first licensed and regulated EU stock exchange cryptocurrency platform is in part thanks to recent changes in Gibraltar law earlier this year, as providers of DLT now come under the jurisdiction of the Financial Services Act, implemented by the Financial Services Commission of the British overseas territory.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

The post Gibraltar Stock Exchange Subsidiary Seeks Regulated Blockchain Exchange appeared first on BitcoinNews.com.

The Rock Is Rolling with Gibraltar’s Investor Surge and First Crypto Postage Stamp

Xapo, the reputed startup holding USD 10 billion of Bitcoin for clients, is set to begin operations from the Rock of Gibraltar as the British overseas territory continues to attract Fintech business, reported Bloomberg.

Gibraltar aims to lure new and existing fintech companies to its shores, following in the footsteps of other European countries such as Malta and Switzerland, both of which have seen the arrival of major cryptocurrency players like Binance and Bitmain in recent months. The 2nd Gibraltar International FinTech Forum held earlier this year, with another ‘Gibfin’ forum to follow in September 2018, demonstrates the country’s serious intent when it comes to encouraging fintech companies to do business there.

Xapo’s CEO, Wences Casares, met with Gibraltar officials including the minister for commerce Albert Isola this week and the minister commented that currently there are 30 businesses on The Rock going through the regulatory licensing process. Gibraltar officials have also confirmed this month that eToro, the self-described world’s leading social trading network, is close to becoming another of The Rock’s recent fintech acquisitions.

The four-year-old company has built a network of underground vaults on five continents, including one in a decommissioned Swiss military bunker. The firm’s billionaire backers include LinkedIn Corp co-founder Reid Hoffman and former Wall Street trader Mike Novogratz, who is in the process of setting up his own cryptocurrency merchant bank.

It is said the process to retrieve owners’ Bitcoins can take about two days. Xapo first verifies the client’s identity before manually signing the transaction with private keys from multiple vault locations. Verification from three vaults is required before funds can be issued.

“We had a good session with Xapo about their plans to expand operations in Gibraltar,” Isola said by phone.

On 21 May, Gibraltar also listed its own first collectible crypto postage stamps. Available in a block of four, the stamps depict the Rock of Gibraltar with a two-pound face value. Each block comes with a QR code which when scanned will generate 200 QRG coins per block in MyEtherWallet.

World Chess Champion Anatoly Karpov, who is also a well-known philatelist, suggests that the Gibraltar QRG coins will be “…a leading light in illuminating the transparency of such transactions and thereby increasing the trust and confidence of participants on both sides.”

According to the report, The goal of the QRG Coin is that philatelic markets and auction houses will be only the first of many collectibles markets to adopt the QRG coin as the medium for the transfer of value.

 

Follow BitcoinNews.com on Twitter at @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Source: Pixabay

The post The Rock Is Rolling with Gibraltar’s Investor Surge and First Crypto Postage Stamp appeared first on BitcoinNews.com.

Switzerland, Gibraltar, Malta Podium Finishers on Most Crypto-Friendly European List

Switzerland has come out on top in a BlockShow Europe study which ranks the most crypto-friendly European countries. Scored on their regulatory frameworks and blockchain related projects among other attributes, Gibraltar and Malta also ranked favorably.

Broad observations

In total, 48 European countries were examined for their existing regulations of initial coin offerings (ICOs) regulations, cryptocurrencies as a payment service and crypto taxation policies. Furthermore, the study took into consideration recent news stories and developments; this is due to ongoing advances in countries that do not yet regulate cryptocurrencies but have plans to do so.

With Gibraltar in second place and Malta third, Switzerland topped the charts ahead of the rest of the pack.

Home of the ‘Crypto Valley’

Switzerland is a crypto-friendly country thanks to leading cryptocurrency and blockchain projects such as the Ethereum Foundation and Shapeshift.

Backing this is the Crypto Valley Association, a government-supported and independent association that has pushed for favorable regulatory frameworks, which has attracted cryptocurrency-related projects from around the world. Blockchain startups and projects in Switzerland can benefit from low taxes, business-friendly regulations, and political stability.

Bitcoin News has recently reported a number of stories on Switzerland that contribute to the Swiss dominating the European charts. A national digital currency, aspirations to become a blockchain nation and heightened blockchain related business inquiries all display the incredible levels of blockchain innovation that can emerge from a crypto-positive country.

In second place, Gibraltar

Gibraltar has been showing great promise and is becoming another crypto-haven for blockchain projects. Innovative regulations and highly attractive business tax are critical factors as to why the British Overseas Territory ranked second in the study.

In late 2017, the Gibraltar Financial Services Commission (GFSC) made proposals for crypto-friendly regulations. Nicky Gomez, GFSC’s head of Risk and innovation told Reuters: “This is the first instance of a purpose-built legislative framework for businesses that use blockchain or distributed ledger technology.”

Additionally, Gibraltar reportedly had received “up to 200 applications” for ICOs ahead of the launch of its Gibraltar Blockchain Exchange (GBX); Bitcoin News has also previously reported that the GBX is moving boldly toward regulatory firsts.

Regarding taxation, Gibraltar is extraordinarily unrestrictive; there are no taxes on capital gains and entrepreneurs only have to pay income tax. It is little wonder that European and local blockchain startups are flocking to the country.

Third Place, Malta

The Mediterranean island of Malta is an interesting occupant of the third place position; proposals for new rules regarding cryptocurrency investment were made in late 2017 and in March of 2018, the Cabinet of Malta approved three bills that revolve around cryptocurrency and blockchain technologies. Furthermore, in April, Bitcoin News reported that the Prime Minister intended to have a “state-regulated cryptocurrency industry“.

It is also the new home to major exchange Binance, which will make Malta the territory with the most substantial cryptocurrency trading volume in the world. Binance announced the move to Malta in late March, likely in part due to Malta’s stance on taxation which allows international companies based on the island to pay as little as 5%.

To view the full list and more, follow this link.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

The post Switzerland, Gibraltar, Malta Podium Finishers on Most Crypto-Friendly European List appeared first on BitcoinNews.com.

Gibraltar Sees Itself as Blockchain Trendsetter

The Gibraltar Stock Exchange has announced that it has bold plans for blockchain technology, encouraging its subsidiary, Gibraltar Blockchain Exchange (GBX), to regulate for investor safety.

According to GBX, it has already enacted Distributed Ledger Technology (DLT) legislation to provide a worldwide jurisdiction for crypto companies, suggesting it wants to lead the world in technology regulation. The new legislation states that any firm in Gibraltar using DLT to store and transmit value is regulated in the country by default.

Gibraltar aims to lure new and existing fintech companies to its shores, following in the footsteps of other European countries such as Malta and Switzerland, both of which have seen the arrival of major cryptocurrency players Binance and Bitmain in recent months. The 2nd Gibraltar International FinTech Forum held last month, with another ‘Gibfin’ forum to follow in September 2018, demonstrate the country’s serious intent when it comes to encouraging fintech companies to do business there.

GBX wants to become the first regulated and licensed token sale platform and digital asset exchange operated by an EU-regulated stock exchange. Similar moves are being made in Germany through a crypto app launched by a subsidiary of the German Boerse Stuttgart. Such moves by both European countries raise the profile of cryptocurrencies and blockchain technologies and gives them enhanced credibility.

In May 2017, the government of Gibraltar set out nine principles for the regulation of blockchain services, which will cover such things as ensuring companies have the technology in place to support their business proposals or keep client assets safe. The GBX website claims it wants to turn the country into a “Crypto Harbour”.

The British overseas territory of Gibraltar has long been friendly to cryptocurrency and blockchain-based initiatives. The Gibraltar Stock Exchange hosted the launch of Europe’s first regulated Bitcoin product in mid-2016 and the territory’s financial watchdog launched a new license for fintech companies using blockchain last December.

 

The post Gibraltar Sees Itself as Blockchain Trendsetter appeared first on BitcoinNews.com.