The Gibraltar Blockchain Exchange (GBE) receives green light from the country’s stock exchange regulator. This makes the GBE the first fully licensed Blockchain Exchange worldwide.
In July of this year, the Gibraltar Stock Exchange (GSX) founds its Blockchain subsidiary GBX. Gibraltar Financial Services Commission, the Blockchain Exchange, granted the highest regulatory license in the country on November 21, according to GBX via the media.
Then follow us on Google News!
“This is an important milestone not only for the GBX but also for the crypto-ecosystem in general. It is a significant step towards a safer and more regulated future for the blockchain industry, with the GBX leading the way,”
it says in the press release.
Investors were able to trade six different crypto assets, including Bitcoin and Ether, prior to licensing on the Blockchain subsidiary of the Gibraltar Stock Exchange. However, users can only exchange these with their Fiat counterpart US dollars. As GBX announces, however, the stock market plans to speed up the expansion of trading peers:
“In the near future we also plan to offer a larger number of Fiat onboarding options as well as a more complete list of exchange pairs.”
For the progressive integration of crypto assets in the traditional financial markets, the licensing by the stock exchange supervision is a positive signal. Finally, institutional investors are often deterred by the unregulated structure of the crypto markets. However, the trend is clearly towards a professionalization of these markets. This is to be observed in reports such as the announcement of the crypto-trading desk of Fidelity, the BAKKT Bitcoin Futures and, most recently, the approval of a crypto-ETP in Switzerland.
Blockchain hub at the southern tip of Europe
The fact that the license was issued six months after being applied for is due to the exemplary blockchain regulation in Gibraltar. The country stands as a showcase for the attraction of blockchain companies; after all, the British overseas territory government launched Europe’s most extensive block chain regulation earlier this year. By July 2018, 35 companies had applied for a business license in the small state in the 34,000-inhabitant state.
Image by Shutterstock
TheBitcoinNews.com – leading Bitcoin News source since 2012
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. The information does not constitute investment advice or an offer to invest.
TheBitcoinNews.com is is not responsible for the content of external sites and feeds. Guest posts, articles or PRs are not always flagged as this!