Wednesday, September 22, 2021
Home News Gibraltar Financial Services Commission Grants DLT Licence to Currency.com 

Gibraltar Financial Services Commission Grants DLT Licence to Currency.com 

Regulated crypto assets platform Currency.com has been awarded a full Distributed Ledger Technology (DLT) licence that will allow Currency.com to utilise DLT to store and transfer crypto assets by the Gibraltar Financial Services Commission (GFSC).

“Gibraltar has been working on financial regulation in this area for many years and has a strict application process for crypto companies. Our Gibraltar licence is an important endorsement for the platform and further confirms our adherence to the most stringent standards, providing the highest level of safety and security for our traders,” said Jonathan Squires, Currency.com’s CEO.

“Not only has Gibraltar’s DLT legislation been in place well before the FATF recommendations of last year, but it also continues to evolve to maintain global leading standards as a regulatory framework and infrastructure for serious operators, and it is great to see groups like Currency.com contribute to the ecosystem developing in the jurisdiction,” said Joey Garcia of Isolas LLP, the legal advisors to the group.

Established in 2018, the tokenized securities exchange is already regulated in Belarus and provides a platform for crypto holders to buy and sell cryptocurrencies, as well as trade real-world assets such as tokenized shares and commodities. With offices in London, Belarus, and now Gibraltar, Currency.com already operates in a number of countries worldwide.

Gibraltar’s Minister for Digital and Financial Services, the Hon Albert Isola MP, said:

“I am pleased that even during the Covid-19 pandemic our GFSC and applicant firms have continued their good work in the licensing process. I am delighted to welcome such an esteemed company to our growing list of licenced firms in Gibraltar. Currency.com has proven themselves to be a key industry player and we look forward to seeing their business develop. We believe in and support the adoption of blockchain technology on a global scale, with Gibraltar at the forefront of exciting and innovative developments. We are pleased to welcome Currency.com to the Rock.”

Gibraltar introduced its DLT legislation in January 2018. The legislation is a purpose-built regulatory framework for enterprises leveraging DLT or blockchain technology as part of their business model. Currency.com has proved compliant with Gibraltar’s nine principles for DLT regulation, including risk management processes, effective corporate governance, and security controls to combat financial and cybercrime. These regulatory principles are designed to protect consumers and businesses who use, store, or trade digital assets on distributed ledgers.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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