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In 2017, Gibraltar’s authority released The Distributed Ledger Technology Regulatory Framework. In this article, you can get more info about the DLT license in Gibraltar, its limitations and ideas connected with it.
These ideas aim to safeguard customers as well as the economy and prestige of the territory, all the while allowing for the necessary abilities to support both established companies and start-ups in advancing their DLT enterprise’s endeavours.
There are some essential ideas for Distributed Ledger Technology Providers:
You should choose the business strategy and the kind of service the company that you plan to offer in or from Gibraltar. During this pre-application discussion, the GFSC will check if the planned activity would fit under the purview of the DLT licensing.
Enterprises will be mandated to undergo the initial request evaluation process if it has been determined that the planned operations will come under the DLT framework’s purview. Candidates must accomplish this by sending an email with the following details to Gibraltar’s official email box:
The GFSC will do a primary examination of the dangers and complexity present in the individual’s planned commerce and structure as part of the first application evaluation.
A complete application packet should be submitted by applicants. If any required paperwork is missing, it won’t be considered the application to be finished.
The application bundle has to include:
Also, candidates will be requested to give a presentation to the GFSC once the enterprise has completed a full request process.
During it, the applicant will have the chance to explain how they will adhere to the regulatory principles of the GFSC, which is an essential component of the authorisations process. It ought to generally address the following topics:
If you have some questions about the permission and the DLT regulatory framework, we recommend getting in touch with our expert group which will help you with the application.
Please contact us to get more information.
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