Gibraltar Blockchain Exchange gets full liscense to operate from regulators

23 Nov, 2018
by David Borman
News
Gibraltar Blockchain Exchange gets full liscense to operate from regulators

According to Bitcoin Magazine, the Gibraltar Blockchain Exchange (GBX) has been granted a full liscense to operate as a cryptocurrency exchange by national regulators. The exchange originally opened to the public in July.

The liscense was granted by the Gibraltar Financial Services Commission (GFSC) after a 180 day process that involved many communications with the GFSC, including a full risk assessment. The team also had to make a presentation concerning their business model and its plans for staying in line with the Commission's Distributed Ledger Technology Regulatory Framework.

Nick Cowan, CEO, is quoted in the article:

“Securing authorization as a DLT provider here in Gibraltar is affirmation of our tireless efforts to position the GBX among the premiere Digital Asset Exchanges globally. Today’s announcement renews our ambition to create a world leading, institutional-grade token sale platform and Digital Asset Exchange.”

Cowan says it has always been the goal of GBX to build an exchange that is regulated and safe for consumers. Now that it has gotten the official approval of the GFSC, it seems it has come much closer to this goal.

It is wonderful to see exchanges getting official sanction from their governments, and hopefully more of this will come to more countries quite soon!

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Read more about: Gibraltar

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