Gibraltar passes bill supporting the introduction of blockchain regulations

Gibraltar's Parliament has approved legislation that prepares the legal basis for a new blockchain-based framework.

The Parliament of Gibraltar has passed a bill for an Act to amend the Financial Services (Investment and Fiduciary Services) Act in order "to extend measures for the protection of investors to the customers of licensees carrying on controlled activities which are not investment services".

This bill represents a legal tweak to pave the way for new rules that should come into force on 1 January 2018 and that aim to define blockchain's use in storing and transmitting value under the territory's law.

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