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| 1 minute read

GMGM Limited obtains a VASP registration with the GFSC to support the project

Congratulations to GMGM Limited which has successfully registered with the Gibraltar Financial Services Commission (GFSC) under the Proceeds of Crime Act 2015 (Relevant Financial Business) (Registration) Regulations 2021 (RFBR Regulations). As a registered Virtual Asset Service Provider (VASP), the Company is allowed to receive proceeds from the sale of tokenised digital assets.

The RFBR Regulations were introduced in Gibraltar last year in full compliance with the FATF’s Recommendations on Virtual Assets & VASPs. The new registration regime is focused on AML compliance and allows token issuers, such as GMGM Limited, to build confidently on solid, compliant foundations.

GMGM Limited will issue the native token for the project and intends to sell NFTs for the Cryptowalkers play-to-earn (P2E) game and its own Walker World.

Cryptowalkers is the bleeding-edge brand at the forefront of blockchain gaming, NFTs, and Web3. Their NFT assets will be interoperable assets for use and play in their third person multiplayer shooter P2E game, being built on Unreal Engine 5 by AAA industry experienced veterans and game developers from massive mainstream video game brands. 

Cryptowalkers is building Walker World – an adventure rich Open Metaverse and experience also being built on Unreal Engine 5. With their robust trinity of NFT Collections, blockchain game, and Walker World - Cryptowalkers is building an industry leading multimedia brand with a focus on P2E multiplayer gaming, digital identity, and cross-world experiences. 

GMGM Limited's director, Morten Juul, said, “GMGM is excited to issue the native token for a use case as innovative as Web3 gaming and NFTs. We’re proud to be an avenue and ally for early builders and entrepreneurs of this paradigm shift – as traditional gaming and business models continue to evolve.”

Keith Chichon, also a director of GMGM Limited, commented, "Working with a team like Cryptowalkers has been an honour given their understanding and adaptability of setting up in such a regulated jurisdiction like Gibraltar."

Aaron Payas, Partner at Hassans and lead counsel for GMGM Limited, added, "Our team is focused on helping founders build in a manner which is compliant from a legal and regulatory perspective. We are big believers in web3 and work tirelessly with our clients to push the industry forward. Cryptowalkers represents the best type of project: strong team, solid backers and great vision."

Gibraltar and Hassans continue to lead the way in the crypto space. The ability to undertake a registered token sale from Gibraltar is extremely appealing to founders who want to build their projects in a compliant manner. 

Feel free to reach out for further information: 

Twitter: @aaronpayas

“We are big believers in web3 and work tirelessly with our clients to push the industry forward.” - Aaron Payas, CFA


blockchain, crypto, dlt, aml, vasp, tokens, nfts