{"id":30397,"date":"2018-02-12T13:37:38","date_gmt":"2018-02-12T21:37:38","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=30397"},"modified":"2018-09-09T19:12:52","modified_gmt":"2018-09-10T02:12:52","slug":"gibraltar-moves-legalize-regulate-icos","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/gibraltar-moves-legalize-regulate-icos\/","title":{"rendered":"Gibraltar Moves to Legalize and Regulate ICOs"},"content":{"rendered":"

Gibraltar has officially fulfilled their promise from back in September<\/a> to roll out regulations for both ICOs and DLT. While the regulations for DLT have been successfully delivered\u00a0back in January, the much-anticipated regulation drafts for ICOs have just been finalized, and the world is watching.<\/p>\n

\"Gibaltar\"
Gibraltar is a British Overseas Territory and headland, on Spain's south coast. It\u2019s dominated by the Rock of Gibraltar, a 426m-high limestone ridge.<\/figcaption><\/figure>\n

Regulators around the world are looking closely because Gibraltar is the first sovereign entity to take the next step to legalizing ICOs. ICOs have become a topic of discussion around the world as governments scramble to make sense of it all before their economy gets hurt.<\/p>\n

ICOs allow any person with the understanding of cryptocurrency to invest well-known coins like Bitcoin<\/a> and Ethereum<\/a> in exchange for ICO tokens. It's a great way for startups to raise funds for their project, but it has become very easy for scammers and hackers to come into the scene steal money.<\/p>\n

One of the most complicated parts of ICO tokens in defining what exactly they are: are they a security or a commodity? Whose jurisdiction is responsible for what? While regulators try to wrap their head around the concepts, tensions grow, causing countries like China to outright ban ICOs<\/a> until they can have total control of how ICOs will be conducted.<\/p>\n

But Gibraltar\u00a0will be going the opposite way: by legalizing ICOs, they will be the first country to experiment what the ripple effects will make upon the entire nation. And if successful, the small nation can benefit largely from businesses around the world marking Gibraltar as a blockchain hot-spot.<\/p>\n

A press release<\/a> of the meeting provided:<\/p>\n

“After taking into account stakeholder feedback, work has now begun on drafting legislation to regulate:<\/p>\n