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BUSINESS ROUND UP
GFSC introduces DLT Regulatory Framework The Gibraltar Financial Services Commission (GFSC) Distributed Ledger Technology (DLT)
Regulatory Framework came into effecton1stJanuary2018. Firmsin Gibraltar that use or want to use DLT (also known as blockchain) to store or transmit value belonging to others, now have to apply for a licence from the GFSC.
The regulator offers an outcomes-focused, principles-based regulatory framework for DLT that is objective, targeted and flexible.
It holds as its primary objective, to protect consumers and the reputation of Gibraltar when considering any licence application and in its supervision and enforcement functions. The GFSC have been working to make sure the
DLT Regulatory Framework meets with their regulatory and strategic objectives, as laid out in the 9 regulatory principles designed for DLT applications.
For further information visit:
www.gfsc.gi/dlt
GBX to launch cryptocurrency The Gibraltar Blockchain Exchange (GBX) - a subsidiary of the Gibraltar Stock Exchange (GSX) - which aims to be one of the world’s first licensed and regulated token sale platform and digital asset exchange, has
announced its public Token Sale Event, which will commence on 7th February and conclude on 14th
February. Tokens issued in the Token Sale will be called Rock Tokens (RKT). Approximately 60 million RKT, equivalent to $6 million USD in total will be issued during the event.
Nick Cowan, GBX CEO, commented: “We’re very excited to share the Rock Token with the world. Everyoneat the GBX is fully committed to blockchain technology and its potential to change the way that people build their own projects”.
British Airways new Gatwick to Gibraltar service British Airways announced in January the launch of a new seasonal route from London Gatwick to Gibraltar. The new service will commence at the end of May, covering the peak summer season
and will run until the end of September, offering flights every day, except Tuesdays. Over 2,000 additional return seats will be offered each week, with a total of 37,000 seats for the period of operation. This is in addition to the 11 weekly flights from London Heathrow during the summer.
Minister for Tourism and Commercial Aviation, Gilbert Licudi, said: “This is fantastic news for Gibraltar, with much needed capacity left behind by Monarch Airlines being filled up by British Airways. LondonGatwickis Gibraltar’s busiest route and these additional weekly services highlight the demand on this route, and will complement the British Airways existing London Heathrow services”.
www.gibraltarinternational.com Gibraltar International 29