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18 Gibraltar International www.gibraltarinternational.comGibraltar%u2019s next big move for Crypto Clearing & StablecoinsBy Jonathan Garcia, Partner, ISOLAS LLPDigital AssetsContinued p20Gibraltar has never shied away from being bold. In 2018, it became the first jurisdiction in the world to regulate Distributed Ledger Technology (DLT). That early move earned it a reputation as a jurisdiction willing to embrace innovation while ensuring guardrails were in place. Today, Gibraltar is pushing the frontier once again. The government has announced plans for a groundbreaking regulatory framework that will govern the digital clearing and settlement of virtual asset derivatives.This is no small step. Clearing and settlement sit at the very heart of financial markets. Traditionally, central counterparties play this role, reducing systemic risk and ensuring that trades between buyers and sellers are executed and finalised without dispute. In the digital asset world, however, this safety net has been largely absent. Most transactions have relied on exchanges, with varying degrees of security and oversight. Gibraltar aims to fill this gap with a framework that brings institutional standards to the digital asset space.Government and IndustryThe new framework, developed in collaboration with the Gibraltar Financial Services Commission (GFSC) and the exchange Bullish, is being positioned as the world%u2019s first dedicated regulatory regime for crypto clearing and settlement. It will provide a roadmap for how risks are managed, how assets are safeguarded, and how settlement finality is guaranteed. Minister for Trade and Industry, The Hon Nigel Feetham MP KC, called it a reflection of Gibraltar%u2019s commitment to %u2018responsible innovation.%u2019 Bullish CEO Tom Farley praised the initiative as a model for public%u2013private partnership done right,