Ledger Technology Licence awarded

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 Thursday, October 18, 2018 - 11:09

Coinfloor was last week awarded a full Distributed Ledger Technol-ogy (DLT) licence by the Gibraltar Financial Services Commission (GFSC). The awarding of the li-cence follows completion of a rigorous application process and authorises Coinfloor to store or transmit value belonging to others using blockchain technology. 

Gibraltar’s Minister for Commerce, Albert Isola said, “We have championed interna-tionally compliant, robust, and sensible legislation to regulate this revolutionary technology in Gi-braltar while simultaneously striving to maintain the conditions that encourage further private sec-tor innovation.

"This announcement is another positive development which shows that Gibraltar is open for business and ready to work with quality companies to provide a regulated road to market.”

Coinfloor is now fully compliant with Gibraltar’s DLT legislation, which is a purpose-built legislative framework for businesses that use blockchain or DLT, introduced in January of this year. The principles-led approach allows businesses to engage with regulators in a robust and speedy manner while also providing the flexibility required for guidelines to evolve in tandem with the fast moving nature of blockchain technology.

Coinfloor is a leading Bitcoin exchange.

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