Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Currency.com obtained a distributed ledger technology license from the Gibraltar Financial Services Commission.
The Gibraltar Financial Services Commission, or GFSC, issued a new distributed ledger technology license to the Belarus-based cryptocurrency platform, Currency.com, on July 6.
According to the announcement, the platform will be allowed to use DLT to store or transmit value belonging to others in connection with the provision of dealer and custody services thanks to the license granted by the GFSC.
Speaking with Cointelegraph, Jonathan Squires, CEO of Currency.com, gave some insight into the companyâs intentions for the license:
âtFor our European clients, weâre aware that they have a preference for a recognizable legal framework for the venue through which they trade (Gibraltar is based heavily on the laws of England and Wales), so we intend to engage with clients and entities in the EU using this license.â
Is Gibraltar a new âcrypto hotspotâ?
As the company is primarily focusing in the UK and EU, Squires praised Gibraltarâs efforts to regulate cryptocurrency, and the nationâs strict application process for crypto-related companies. He added:
âOur Gibraltar license 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.â
Looking ahead, Squires told Cointelegraph about the crypto platformâs plans:
âWe have several regions weâre keen to extend into, and we have the technical capacity and team to do so easily. That said, we are being very cautious about any market entry to make sure that we protect both our clients and our brand. Once we have built our European expansion through Gibraltar, weâll be moving on to other large markets for sure.â
Gibraltar has recently taken significant steps to regulate the crypto environment within the country. Some industry actors have praised the momentum Gibraltar is generating and consider the country a new âcrypto hotspotâ.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.