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Mauritius is willing to adapt distributed ledger technology and acknowledge the cryptocurrency as digital asset
Mauritius is one of the well-known financial centers. Being focused on a lasting economic growth, Mauritius is willing to advance traditional industrial development with an innovative approach. The Republic has admitted that the current digital revolution grants opportunities for smaller economies (for instance Mauritius) to open new and innovative growth perspectives. For this reason, **Mauritiu...
Path: BlogGibraltar Crypto License
As of January 2018, a new regulatory framework for distributed ledger technology (DLT) is becoming operational. Companies, that operate in or from Gibraltar within the field of virtual currency exchange are required to apply for DLT License under HM Government of Gibraltar.Timeframe: around 6 months Minimum paid up capital: No specific minimum share capital requirement is mandated fo...
Path: LicensingKnow-hows on Different Legislations and Blockchain Implementation Profitability in Your Business
...ent for the companies. If you are willing to implement **Blockchain technologies in your business** based in Gibraltar, it is a reasonable idea to wait until January 2018, when the new regulations will come be implemented. Now, the firms that use distributed ledger technology (DLT), are not subject to regulations but next year this will change. Many other countries are planning to implement re...
Path: BlogGerman Political Parties raise discussion on implementing Regulation for Crypto Blockchain Industry
...ent added in regards to the ‘digital awakening.’ **Optimism on Blockchain** However, the coalition still is positive about the current development of blockchain technology, pointing out that investments in artificial intelligence and other distributed ledger technology (DLT) could get incentivized in a forthcoming government. “Building on the measures taken in the last legislative peri...
Path: BlogThe UK provides legal certainty for crypto assets and smart contracts
...e adoption of crypto assets and smart contracts by determining their legal status.** The legal Statement published by the United Kingdom Jurisdiction Taskforce tackles the legal uncertainties concerning the cryptocurrencies, smart contracts and DLT (distributed ledger technology). The document provides regulatory clarity by recognizing crypto assets as tradeable property and smart contracts as...
Path: BlogFINRA grants extended deadlines for companies to report their crypto activities
...tion, management or participation of a crypto exchange, fund or derivatives product; • participation in an ICO or Pre-ICO; • facilitating the clearing or distribution of cryptocurrencies; and • recording cryptocurrencies using blockchain or distributed ledger technology. FINRA also recommended that member firms report ‘any other use of blockchain technology,’ with the only exceptio...
Path: BlogTop 5 crypto-friendly jurisdictions
...RE** Singapore, an island city-state that is opened to both cryptocurrencies and blockchain. The government and the central bank of the country are chasing a clear blockchain plan with the objective to connect central banks worldwide through DLT (distributed ledger technology). With regards to cryptoregulation, they had long adopted a free-hand policy for crypto business which significantly...
Path: BlogFresh breath of air for innovative financial services in Labuan
...nancial services (IFS)** such as fintech and assists Labuan entities in case of providing related to fintech activities. LFSA expressed its interest in attracting “Innovative Financial Services” to the region including businesses involved in distributed ledger technology and cryptocurrencies as it stated in “Circular on Innovative Financial Services in the Labuan” sent on June 28, 2018...
Path: BlogDubai International Financial Center is planning to launch the world's first blockchain court
...researches regarding the blockchain technology and how it can be implemented, and used to enforce court rulings and separately on the resolution and mitigation of disputes relating to blockchain-enabled agreements. In a few words, **blockchain is distributed ledger technology (also known as DLT) which allowing digital information to be distributed at the highest security level**. Originally dev...
Path: BlogGibraltar Goes Fintech: Next Destination - Hong Kong
...blished a consultation paper, which consists of propositions about Fintech regulations. This is the first step to create special legal acts and start cooperation with other countries in this sector. Business in Gibraltar will be able to use a new distributed ledger technology. For an **offshore jurisdiction**, this ability opens many doors as it will create a new way to store or transfer values...
Path: BlogWorld Bank launches first global blockchain bond-i and raises AU$110 million
**The World Bank created bond-i** (blockchain operated new debt instrument), the world’s first bond to be created, assigned, transferred and administered through its life cycle using distributed ledger technology (blockchain). The bond raised AU$110 million, marking the first time that investors have supported the World Bank’s development activities in a transaction that is fully managed ...
Path: BlogSpanish internal collaboration on blockchain project
...sion (CNMV)** and several financial institutions, including BNP Paribas, Commerzbank, Banco Santander, Caixa Bank, during the entire previous year have been collaborating on a **blockchain project called Fast Track Listing (FLT)**, which is based on distributed ledger technology. The main purpose of the collaboration is to make the process easier and reduce the time needed to register issuances...
Path: BlogGovernmental digitalization in Malta
Recently the **Parliament of Malta considered three bills on distributed ledger technology**. Simply put, distributed ledger technology (DLT) is widely known as **blockchain technology**. Analyzing the provisions of the aforementioned documents, we can certainly say that the public authorities of Malta have a positive attitude towards the blockchain technology. **Malta government authoritie...
Path: BlogGibraltar and Hong Kong plan to work together on the fintech sectors development
...ate and share information, experience and developing innovations in this sector. Official representative of The Gibraltar Financial Service Commission highlighted that **Gibraltar government was the first one to develop a legal regulation for the distributed ledger technology (DLT)**, which is the foundation of most Fintech projects. As of now authorities of both countries will be able to start...
Path: BlogVirtual currency draft bill in Gibraltar
**distributed ledger technology** (DLT), widely known as the **blockchain**, is a stumbling block for many jurisdictions. It is hard to ignore it now due to the fact that dozens of businesses in their activities use virtual technologies and, as a result, virtual currencies. **Gibraltar** is the jurisdiction that, along with the others, starts adding DLT to its scope of regulation. The Gibralt...
Path: BlogNovelties for the Blockchain Business and ICOs in Gibraltar
...ulations and rules in the international business world. We decided to start from the new rules in **Gibraltar**. The main financial regulator of this country, Gibraltar Financial Services Commission, announced new obligation for the companies using distributed ledger technology for storing or transferring values that belong to others. Currently, **DLT** is widely known as Blockchain and busin...
Path: BlogBermuda Digital Asset license
...in binary form and comes with the right to use it and includes a digital representation of value. It captures digital coins, security, equity or utility tokens and anything intended to provide access to an application, product or service by means of distributed ledger technology. There are two classes of the License available for applicants: The Class M - is a restricted form of license i...
Path: Licensing