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Mondaq Blockchain Jurisdictional Comparative Guide

Our contribution earlier this year to the Mondaq Blockchain Guide 2020 covering the Gibraltar chapter serves as a jurisdictional comparator for Blockchain businesses (start-ups and established businesses alike) so that they may assess how Gibraltar fares in the regulation of Distributed Ledger Technology compared to other jurisdictions. This is particularly relevant in the current climate as Gibraltar's hard work over a number of years in establishing its reputation as a professional high quality jurisdiction that takes a robust but pragmatic approach to Blockchain regulation and which is whitelisted and compliant, and delivering in this regard, is now seeing greater international interest with Blockchain businesses taking steps to establish a presence on the Rock and be regulated.

The Guide not only addresses the legal and regulatory framework for blockchain businesses in Gibraltar, but also looks at technical and commercial considerations. The Guide also covers the use of cryptocurrencies (or virtual currencies), Gibraltar's position on AML/CFT checks in this regard, cryptocurrency exchanges, legal considerations around smart contracts, data privacy and many other interesting subjects. In addition, the Guide provides insights to the Gibraltar regulator's approach to the industry and the private sector landscape.

We hope you will find it an interesting read, and if you have any queries, please do not hesitate to contact us.

A link to the Guide can be found here.

Our advice is simple: whether you are an established blockchain enterprise or a start-up, consider, understand and be aware of your legal and regulatory obligations to ensure compliance. Plan effectively and always seek advice and guidance at the earliest juncture. Gibraltar is fortunate to have a regulator in the Gibraltar Financial Services Commission and local advisers that are open to dialogue and willing to offer expert assistance wherever needed. You should therefore use these benefits to your own advantage.

Tags

blockchain, crypto, fintech, new technology, regulation