Gibraltar pushing forward with blockchain exchange platform after GFSC approval

23 Nov, 2018
by Ryan Boltman
News
Gibraltar pushing forward with blockchain exchange platform after GFSC approval

The Gibraltar Financial Services Commission (GFSC) has approved the Gibraltar Blockchain Exchange's license, paving the way forward for the Gibraltar Stock Exchange (GBX) to offer the first regulated digital asset marketplace and ecosystem.  

Cointelegraph reported that the bid to launch the GBX started in November 2017, and has since been going through regulatory hoops with the GFSC. One year later and the GBX has received licensing approval to become a provider of Distributed Ledger Technology (DLT). 

Recap: Coinfloor is approved as the first regulated exchange in Gibraltar

The GSX now becomes the the first regulated stock exchange to own and operate a government regulated blockchain exchange. GBX currently offers only six digital assets for trading, with future plans said to be adding USD and fiat currency options. Digital assets currently tradable on the exchange include BTC, ETH, and RKT, the exchanges native token. 

The license approval for GBX will allow Gibraltar to continue its effort to develop a blockchain friendly environment. Gibraltar is also working on ICO regulations to protect investors and offer a solution to the current issues plaguing the industry. Gibraltar will be looking to implement an "authorized sponsor" system that sees compliance and responsibility being handled by the sponsor. 

Gibraltar continues to push blockchain adoption following the huge announcement. 

Recap:  Blockchain FOMO: Gibraltar government to launch blockchain education program soon

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