Despite its small size, the overseas British territory has a track record of developing rules for the crypto market.
Some fairly large names have set up shop in Gibraltar and obtained licenses from local regulators, including FTX, Huobi and Bullish.Geography Photos | Universal Images Group | Getty Images
The overseas British territory, located on the southern tip of Spain, published an amendment to existing regulations Wednesday requiring firms dealing inIn a guidance note for regulated crypto companies, the Gibraltar Financial Services Commission says firms must combat "manipulation or improper influencing of prices, liquidity or market information, or any other behaviour which is inimical to market integrity.
"The more there is around the world in terms of international standards for this space, the more trust, the more usage, and the more adoption we will have around the world," he added.While perhaps better known as a seaport and popular vacation spot, Gibraltar is a hub for a number of other industries, including financial services and gambling. Its latest move forms part of an ongoing bid to lead the way in regulation of the digital currency industry.
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