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DLT framework offers flexibility for quality operators, regulator says

DLT framework offers flexibility for quality operators, regulator says

Gibraltar’s new framework for distributed ledger technology [DLT] will offer businesses flexibility to innovate in a fast-moving sector, while ensuring a “regulatory grip” to protect investors and consumers, the Rock’s chief regulator said this week.

Samantha Barrass, the chief executive of the Gibraltar Financial Services Commission, said Gibraltar had laid a solid foundation to underpin its bid to be the first jurisdiction offering regulatory certainty to firms in this sector.

“I think there is an important international contribution that we are making by providing a regulatory regime in the way that we’re providing it,” she said.

“It provides certainty to those that are wishing to invest and grow the technology, that they can come to Gibraltar and be able to do good business in this area and differentiate themselves appropriately from those that may be less interested in doing good business.”

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The GFSC has been at the centre of a three-year consultation pulling together industry and government to understand the opportunities and risks of DLT and its myriad potential uses.

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