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Gibraltar will introduce the world's first regulations for initial coin offerings with dedicated rules for the cryptocurrency sector whose fast growth has triggered concern among central bankers.
Gibraltar's government and Gibraltar Financial Services Commission (GFSC) said lawmakers will discuss a draft law in coming weeks to regulate the promotion, sale and distribution of tokens connected with the British overseas territory. Continue reading the main story Advertisement Continue reading the main story The GFSC said it would represent the first set of bespoke rules for tokens in the world. "One of the key aspects of the token regulations is that we will be introducing the concept of regulating authorized sponsors who will be responsible for assuring compliance with disclosure and financial crime rules," said Sian Jones, a senior adviser to the GFSC.
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