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posted 5 years ago
The cryptocurrency business offers multiple benefits but only for those projects which operate within the regulatory framework. An increasing number of cryptocurrency projects choose crypto-friendly jurisdictions to avoid issues in the future.
Gibraltar is considered one of the most popular crypto-friendly jurisdictions. In this article we will talk about getting a DLT license in Gibraltar and why it is worth it.
At the beginning of 2018 Gibraltar implemented a Distributed Ledger Technology Regulatory Framework (DLT Framework).
The key features of DLT regulation in the peninsula include flexibility, protection of client interests and Gibraltar’s reputation. The financial regulator welcomes new entities and industries, and promotes their growth.
The following activities are allowed under the DLT license:
Benefits of the Gibraltar DLT license:
Indeed, there are also some downsides of the DLT license in Gibraltar:
Substance requirement (economic presence in the country). To get the license, one needs to have local employees and directors and to prove that the company is managed from Gibraltar.
Being a British Overseas Territory, Gibraltar intends to exit the European Union in the nearest future.
The DLT licensing process in Gibraltar involves the following steps:
DLT license issue time: 4-6 months.
SBSB International Law Firm advises Gibraltar for the effective implementation of your cryptocurrency project. Boasting an extensive portfolio of successful DLT license issues in Gibraltar, our lawyers will be happy to help you obtain the DLT license.
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