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  • Date of publication: 31 August 2020
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  • Gibraltar is the first country in the world where ICO has been legislatively regulated


    Since January 1, 2018 in Gibraltar, the regulatory framework for DLT (Distributed Registry Technologies) has come into force, in other words ICO in this country is now officially regulated.

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The Gibraltar Commission for Financial Services began to develop legal documents in the field of primary coin placement in early October 2017.

Niki Gomes, head of risk and innovation at the Financial Services Commission of Gibraltar, said his department welcomed any comments from technology providers in the distributed registry and would do everything possible to ensure that their legal framework matched the market to the maximum.

So the team of Nika Gomez in the next few months intends to improve the legislative framework related to ICO and implement the innovative ideas of Blokchain specialists.

Thus, the beginning of the legal regulation of the ICO is laid and in the near future other countries can also follow the example of Gibraltar. Russian officials should first of all pay attention to this, because, according to the data of the RACIB , in 2017 the loss of the Russian economy due to the lack of regulation of the ICO amounted to 20 billion rubles.