Gibraltar's Official Cryptocurrency Exchange is Open to the Public
- The 'Digital Asset Exchange' begins with six cryptocurrencies.

Six Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. Read this Term
It has begun trading with six cryptocurrencies - Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ethereum Classic, and Rock Token (RKT). This last is the exchange's own token, the sale of which raised it $27 million during its own ICO. Approximately 3,500 people bought the tokens. It currently has a market capitalisation of $31.2 million, according to coinmarketcap.com.
The launch follows a test run in June in which 300 people used the service and gave feedback.
The exchange also advertising a couple of promotions on its website to get things going - trading is fee-less until the 14th of September, and there will soon be a trading competition with a prize pool of 1 million RKT ($79,441).
GBX CEO Nick Cowan said: “Today marks the most exciting development on the GBX journey thus far and is a significant indication that Gibraltar is open for business."
About the GBX
The Gibraltor Blockchain Exchange, or GBX to its friends, is both a cryptocurrency exchange and marketplace for initial coin offerings. The ICO part was launched in February.
The GBX vets ICOs according to guidelines which were published in March. These include the enforcement of accurate advertising and a sponsor programme which requires that all prospective projects find themselves an independent sponsor who must submit to the GBX for approval.
That month, Cowan told the Financial Times that the exchange had already been approached by "up to 200 applicants". In July, the exchange announced its third accepted ICO project - Crowdvilla, a company that sells timeshares in holiday homes represented as tokens on a blockchain. The company's sponsor was an ICO consultancy firm called ICOMain.io, which also sponsored the GBX during its own token sale.
Exchange regulations
Regarding exchange regulations, the aforementioned guidelines state that they will be in accordance with EU financial law “so far as is appropriate, proportionate and relevant.”
This means that the Gibraltar Financial Services Commission relied on MiFID II to write its rules. In accordance with this, users must complete KYC requirements - meaning, confirm their identities - before using the service.
Gibraltar actually began examining the topic of cryptocurrency regulation in 2014 when it created a cryptocurrency committee. In October 2017 it committed to writing laws by 2018, and true to its word published nine 'regulatory principles' on the 3rd of January.
Six Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. Read this Term
It has begun trading with six cryptocurrencies - Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ethereum Classic, and Rock Token (RKT). This last is the exchange's own token, the sale of which raised it $27 million during its own ICO. Approximately 3,500 people bought the tokens. It currently has a market capitalisation of $31.2 million, according to coinmarketcap.com.
The launch follows a test run in June in which 300 people used the service and gave feedback.
The exchange also advertising a couple of promotions on its website to get things going - trading is fee-less until the 14th of September, and there will soon be a trading competition with a prize pool of 1 million RKT ($79,441).
GBX CEO Nick Cowan said: “Today marks the most exciting development on the GBX journey thus far and is a significant indication that Gibraltar is open for business."
About the GBX
The Gibraltor Blockchain Exchange, or GBX to its friends, is both a cryptocurrency exchange and marketplace for initial coin offerings. The ICO part was launched in February.
The GBX vets ICOs according to guidelines which were published in March. These include the enforcement of accurate advertising and a sponsor programme which requires that all prospective projects find themselves an independent sponsor who must submit to the GBX for approval.
That month, Cowan told the Financial Times that the exchange had already been approached by "up to 200 applicants". In July, the exchange announced its third accepted ICO project - Crowdvilla, a company that sells timeshares in holiday homes represented as tokens on a blockchain. The company's sponsor was an ICO consultancy firm called ICOMain.io, which also sponsored the GBX during its own token sale.
Exchange regulations
Regarding exchange regulations, the aforementioned guidelines state that they will be in accordance with EU financial law “so far as is appropriate, proportionate and relevant.”
This means that the Gibraltar Financial Services Commission relied on MiFID II to write its rules. In accordance with this, users must complete KYC requirements - meaning, confirm their identities - before using the service.
Gibraltar actually began examining the topic of cryptocurrency regulation in 2014 when it created a cryptocurrency committee. In October 2017 it committed to writing laws by 2018, and true to its word published nine 'regulatory principles' on the 3rd of January.