Gibraltar’s Government is Stepping Forward to Regulate ICOs

Garry Singh

Garry Singh

February 12, 2018 1:51 pm

Gibraltar's Government is Stepping Forward to Regulate ICOs | Coindelite News
4560 Total Views

Gibraltar’s Government will regulate ICOs

Gibraltar’s government and Gibraltar Financial Services Commission (GFSC) has declared that in the upcoming days it will develop a draft which will regulate Initial Coin Offerings (ICOs) in the British overseas territory.

The lawmakers say that the draft law has planned to regulate the promotion, sale, and also the distribution of digital tokens on the territory of Gibraltar is going to be the first ever set of regulations which are developed specially for ICOs.

Sian Jones, one of GFSC’s senior advisors told:

“One of the principal aspects of Gibraltar’s ICO regulations will be the introduction of the concept of authorized sponsors, who are supposed to be responsible for assuring compliance with disclosure and financial crime rules.”

The government and Financial Services Commission has revealed that the draft law will also set the disclosure rules which require ICO projects to provide sufficient, reliable and balanced information for people who buy the tokens.

The GFSC has already announced before that it would seek regulations around ICOs.

Meanwhile, the regulator told:

“It was considering a complementary regulatory framework covering the promotion and sale of tokens, aligned with the DLT framework.”

How to Create NEM/NanoWallet?

How to create NEM/NanoWallet? The original LightWallet was released before one year, and then NanoWallet has come a long way. The latest version of the wallet 1.3.0, has so many improvements and here is a tutorial that can help everyone to know about the wallet. NanoWallet Guide First of all, …

UN to Adopt IOTA Ledger Tech for Higher Efficiency

United Nations Division Looks to IOTA Ledger Tech for Higher Efficiency The UN Office for Project Service (UNOPS) is collaborating with the  IOTA Foundation to perceive how the project’s distributed ledger technology can assist the UN to streamline its workflows. The UNOPS declared the partnership on Tuesday, stating the two …

Amazon Plans to Adopt Ripple(XRP): Let Us Understand Why!

Ripple(XRP) to be Adopted by Dominant Giant, Amazon Around seventy-five of the world’s largest banks, financial institutions and remittance services have adopted Ripple’s technology. Since many financial giants are already using Ripple, Amazon, which is not unusually small, could choose it as well. Let us understand three reasons why Ripple …

Singapore Recommends Regulatory Changes for Decentralized Exchanges

Singapore Suggests Changes to Existing Regulation for Decentralized Exchanges The Monetary Authority of Singapore (MAS), the city-state’s de facto central bank, recommending changes to current regulations that would ease market entry for blockchain-based decentralized exchanges. As per a consulting paper Monetary Authority of Singapore (MAS) states that the current single-tier …

India Considers 18% GST on Digital Currency Trading

Indian Government considers GST on Cryptocurrency Trade According to a Report, the Indian government is weighing to impose Goods and Service Tax (GST) on digital currency trading. As per Bloomberg, people close to the concern said that the government might levy 18% on cryptocurrency trades, in spite of Reserve Banks’ …

Supreme Court of India will Hold Crypto Lawsuit Hearing in July

India’s Supreme Court will Hold  Crypto Lawsuit Hearing in July To decide on the increasing number of crypto-related petitions filed against country’s bank, now Supreme Court of India will be holding a hearing in July. The Supreme Court has banned all other courts from accepting the petition in tracking the …

Press Release