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Regulating FinTech; Proposals for a Distributed Ledger Technology (DLT) Regulatory Framework

09 May 17

HM Government of Gibraltar confirms that it will today publish for public consultation the above captioned document. The consultation period runs up to and including 6th June 2017.

Albert Isola, Minister for Commerce commented, “This Government made a public commitment to widely consult with the private sector and other interested parties on its vision to establish and develop Gibraltar as a centre of excellence in the innovative financial technology sector. I am pleased to advise that, working closely with the Gibraltar Financial Services Commission, and the private sector Cryptocurrency Working Group we have produced a comprehensive document providing a detailed template on how we believe this should happen”. 

This morning the Government is a co-sponsor of the Digital Currency Summit hosted at the University of Gibraltar. This summit has brought to Gibraltar many significant players in the technology sector from overseas and we welcome the opportunity to exchange views on the proposed Gibraltar regulatory framework.  As always, we welcome and encourage as much feedback as is possible to allow us to give due regard to your views and develop a world leading framework in this new and exciting area of opportunity. I would like to publicly acknowledge and thank the many people that have contributed to and supported this process over the last 2 years and look forward to driving this to implementation in the coming months”.

The Gibraltar Financial Services Commission will be hosting a clinic on Wednesday 10th May 2017 at the University of Gibraltar between 10am and 12pm to provide further detailed information on this consultation. Anyone wanting to attend can register to the event via Eventbrite by clicking here.

CEO of the GFSC, Samantha Barrass, commented, “We welcome the publication today of the consultation paper on the proposed DLT regulatory framework, and look forward to engaging with attendees of the conference and our clinic tomorrow, as well as receiving feedback during the consultation process”.

Copies of the consultation document will be available on the websites of Gibraltar Finance gibraltarfinance.gi and the Gibraltar Financial Services Commission gfsc.gi on Tuesday 9th May 2017.

Should you have any questions on this press release please contact Paul Astengo in the first instance at paul.astengo@financecentre.gov.gi