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Gibraltar continues to cultivate its reputation as a DLT hub

09/10/2019

Distributed ledger technology (DLT) has been one of the key frontiers of the increasingly digital nature of financial services in recent years – a development of which Gibraltar has long been at the forefront.

It should be no great surprise, then, that developments continue to emerge showing why so many firms specialising in DLT are seeking out offices to rent in Gibraltar.

Those developments include partner at the Gibraltar law firm ISOLAS and thought leader on regulatory issues around digital assets, Joey Garcia, being invited to speak at a conference at the globally renowned Wharton Business School in the United States.

An increasing role for the territory in this key aspect of financial services

The conference was hosted at the University of Pennsylvania, and concentrated on the evolution of digital assets, with specific interest in international regulatory developments, stablecoins and decentralised payment systems, in addition to wider concepts related to decentralised financial initiatives.

Various internationally recognised regulators, academics and lawyers were present at the conference.

The chapter shining a light on Gibraltar’s place in the EU’s DLT sector

In another sign of how Gibraltar is playing an ever-more prominent part in the worldwide conversation surrounding DLT and related trends in financial services, Joey Garcia also joined another ISOLAS partner, Jonathan Garcia, in contributing to a paper from the influential blockchain think tank, thinkBLOCKtank, on ‘The Regulation of Tokens in Europe’.

The section of the paper that Joey and Jonathan wrote, as founder members of the think tank, focused on the regulatory framework of Gibraltar. The piece sat alongside similar articles on other parts of the EU, as written by experts in those markets.

Joey and Jonathan’s chapter of the paper looks at how the Gibraltar Financial Services Commission (GFSC) has approached regulation in the jurisdiction, including ensuring it is able to continually change and adapt in line with this fast-moving industry.

The piece details such aspects of the framework as the consumer protection and consumer focus that has been arguably lacking in the unregulated space. It also examines a number of the factors that have contributed to Gibraltar’s present status as a major force in the DLT sector.

Joey Garcia commented: “Following all our work in this space, advising the likes of LMAX Digital and Huobi, Bitso, Coinfloor and Lendingblock receiving their DLT licences, it’s been a great opportunity to contribute to the global conversation on the regulation of DLT.”

Don’t look further when looking to rent offices in Gibraltar

Whatever your own organisation’s industry and the extent of its ambitions for its time in the British Overseas Territory, you can always depend on BMI Group to spotlight the most advantageous opportunities to rent or purchase suitable commercial property here.

Contact our professional and friendly property search team today, whether by emailing info@bmigroup.gi or calling (+350) 200 51010, so that we can provide the diligent, tailored and informed advice and guidance that will enable you to tap into the best of the local property market.