A business-like approach to regulating digital assets is working for Gibraltar

In January 2018, Gibraltar became the first jurisdiction on the planet to pass into a law a regulatory framework to accommodate financial services based on blockchain. It has helped to attract to the Rock more than a dozen digital financial services companies, including crypto-currency funds and Insurtechs.

The government of Gibraltar and the Gibraltar Financial Services Commission (GFSC) pride themselves on their closeness and accessibility to the industry, which they believe encourages a spirit of openness among regulated firms, but they are not an easy touch: it can take 12 months to get approved, and more licence applicants are disappointed than endorsed. Dominic Hobson, co-founder of Future of Finance, spoke to the Honourable Albert Isola, Minister for Digital and Financial Services in Gibraltar, about what licence-seekers can expect and where he thinks the next big opportunities lie.

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