Gibraltar Blockchain Exchange first in world to acquire full licence
The Gibraltar Blockchain Exchange (GBX), a token sale platform and digital asset exchange, has been granted a full licence by the Gibraltar Financial Services Commission (GFSC).
The licence as a provider of distributed ledger technology (DLT) is granted under Gibraltar’s Financial Services Regulations 2018 DLT framework, which means that the Gibraltar Stock Exchange (GSX) has become the “first” stock exchange to own a regulated blockchain exchange.
GBX is a subsidiary of the Gibraltar Stock Exchange Group (GSX Group).
Gibraltar’s DLT regulatory framework was introduced in January 2018, making Gibraltar the first jurisdiction to introduce regulations around DLT.
GBX underwent its full-scale public launch in July 2018, with a soft launch just a month before.
“From the very beginning we have sought to build a platform defined by stringent regulatory safeguards and effective risk-based controls, while promoting the sensible and sustainable development of the industry. Today’s authorisation is an endorsement of this long held position and evidence of the hard work put in up to this point,” says Nick Cowan, GBX’s CEO.
“Gibraltar has found the right blend of sensible and supportive regulation, which has helped position the jurisdiction as a lodestar for the global cryptocurrency space, while allowing blockchain companies to flourish. Crucially, here in Gibraltar there has been a realisation that the pursuit of innovation should never come at the expense of sustainability and long-term development,” concludes Cowan.