The Gibraltar Funds and Investments Association has published the first ever Code of Conduct for Crypto Funds.
At an event held in London, the GFIA also published an amendment of Gibraltar’s Experienced Investor Funds Regulations 2018.
As a number of crypto funds are being established in Gibraltar, the GFIA felt it would be helpful to launch a code of conduct to help promoters and service providers address issues that are specific to crypto funds.
This, coupled with the new funds legislation which allows more flexibility in choosing regulated directors is likely to boost Gibraltar’s funds and asset management industries.
A spokesman for the GFIA said other jurisdictions may adopt its Code of Conduct as the crypto sector is so new and there is such little guidance available.
James Lasry, Chairman of GFIA, said: “The Code shows that the funds industry in Gibraltar is proactive and innovative and has a deep commitment to the principles of investor protection and corporate governance.”
“I am delighted that even being from a small jurisdiction we were able to issue such a ground-breaking code.”
Albert Isola, Minister for Financial Services and Gaming, said: “As we work to deliver best practice across our sector, I am pleased to welcome the work of GFIA in delivering their new Code of Conduct in this exciting and innovative area.”
“Clearly a lot of thought has gone into this code that gives guidance for this asset class which Gibraltar very much seeks to welcome.”