Gibraltar Bill Passage Paves Way for Blockchain Regulations

Lawmakers in Gibraltar approved a piece of legislation last week that advances the government’s broader plans for blockchain.

On Dec. 6, legislators cleared a bill that amends the British overseas territory’s Financial Services (Investment and Fiduciary Services) Act in order to “extend measures for the protection of investors to the customers of licensees carrying on controlled activities which are not investment services.”

As arcane as that may seem, the bill represents a legal tweak intended to pave the way for new rules that officials made public last year as part of a bid to legally define blockchain’s use in storing and transmitting value under Gibraltar law.

Albert Isola, Gibraltar’s Minister of Commerce, celebrated the bill’s passage and pointed to expected demand for licenses once the DLT-specific regulations are formally introduced in the new year…

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