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GBX, which is a subsidiary of the Gibraltar Stock Exchange (GSX), plans to become one of the first licensed and regulated digital asset exchanges operated by an EU regulated stock exchange. This is possible thanks to a decision by the Gibraltar Parliament from December last year. The legislature voted unanimously to pass a bill to amend the Financial Services Act in order to regulate the crypto sector.

The mechanism aimed at protecting customers of cryptocurrency businesses in Gibraltar went into effect on January 1 this year. The regulation targeted crypto and blockchain companies by introducing a licensing regime implemented by the Financial Services Commission of the British overseas territory. The providers of distributed ledger technology services are now obliged to adhere to the regulatory requirements of the Financial Services Act.

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