GBX Granted License To Operate As A Regulated Blockchain Exchange.

GBX Granted License To Operate As A Regulated Blockchain Exchange.

2018-11-24 | Mike Hallen

GBX Granted License To Operate As A Regulated Blockchain Exchange.

In line the company’s recent official web blog post, the GBX Exchange [Gibraltar Blockchain Exchange] has secured a license from the Gibraltar Financial Services Commission [GFSC].

The GBX was established earlier in the month of July this year by the Gibraltar stock exchange [GSX]. The platform initially proclaimed its blockchain commerce platform earlier in the month of July 2017, focusing to “become the world’s first across the nation regulated digital assets marketplace.”

The official announcement from the company further adds:

“As from 21st Nov. 2018, the GBX would be operating as a totally authorized supplier of Distributed Ledger Technology [DLT], regulated by the Gibraltar Financial Services Commission underneath Gibraltar’s Financial Services laws 2018 DLT framework.”

In line with the statement, the move makes the GSX the primary regulated exchange to possess and operates a regulated blockchain exchange.

Presently the GBX supports commerce in six digital assets, which include Bitcoin [BTC], Ethereum [ETH], along with the exchange’s native Rock [RKT] token, with plans to feature additional fiat currency onboarding choices, additionally to USD, “in the mere coming future.”

Gibraltar is believed for its push to develop a blockchain and cryptocurrency-friendly phase. Earlier in Feb, Gibraltar’s government along with the GFSC proclaimed the creation of a draft law that may regulate Initial Coin Offerings [ICOs] within the British overseas territory.

One of the principal aspects of Gibraltar’s ICO laws is claimed to be the introduction of the conception of “authorized sponsors,” who are alleged to be “responsible for reassuring compliance with disclosure act and financial crime rules.”

By March – prior to the planned launch of the GBX – Gibraltar had attracted “200” prospective ICOs, that mirrored “huge” interest in launching token sales underneath the territory’s recently regulated ICO phase.

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