Gibraltar has decided to implement new rules regulating the cryptocurrency trade in its jurisdiction. So far they have been considered to be one of the more friendly cryptocurrency destinations, but now there is a push for new legislation to keep the crypto market under some measure of control.
Gibraltar has a minister of minister of digital and financial services - Albert Isola – who recently spoke about the impending changes. “We considered regulating crypto assets, but concluded that it was too challenging to do it safely…Therefore, we opted for regulating this space in a more financial services-based way” he said.
In other words, they are planning to regulate cryptos like the financial sector, rather than treat them as just assets.
In the midst of the crisis some jurisdictions seem to be looking to cryptos, it'd be interesting to see where this goes.