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Bitcoin Price Chart in Gibraltar Pound
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Bitcoin Regulation and Bitcoin Tax in Gibraltar
Bitcoin is largely welcome in Gibraltar. ‘The Rock’, a British Overseas Territory located at the southern tip of the Iberian Peninsula is one of the smallest British territories at just over 2.6 square miles. The tiny population of 35,000 lie at the foot of the thunderingly great Rock of Gibraltar and you can’t miss it as it dominates the landscape. According to Wikipedia, “The sovereignty of Gibraltar is a major point of contention in Anglo-Spanish relations as Spain asserts a claim to the territory. Gibraltarians overwhelmingly rejected proposals for Spanish sovereignty in a 1967 referendum and again in 2002. Under the Gibraltar constitution of 2006, Gibraltar governs its own affairs, though some powers, such as defence and foreign relations, remain the responsibility of the British government.”
As an British overseas territory, Gibraltar enjoys an independent legal system from Britain and develops its own economic policies. It relies on Tourism, gambling and financial companies for income and so is ‘friendly’ to Bitcoin in Gibraltar. The legislature of Gibraltar has recently updated its financial regulations to include cryptocurrency and a newly adopted bill has paved the way for a regulatory framework attractive to cryptocurrency businesses. The Gibraltar Financial Services Commission (GFSC) has established nine regulatory principles include the protection of consumer rights and interests and protections in place for the safety of client’s funds and assets including, “contingency, disaster recovery and crisis management plans” and “any use of distributed ledger technology for storing or transmitting value belonging to others will need to be authorized by the Commission.”
So when you have visited the Rock and fed the monkeys, you can go down to the town and buy Bitcoin in Gibraltar.
This article is for information purposes only and is not to be construed as financial information for any purposes such as investment or speculation and it is the responsibility of the reader to perform proper due diligence before acting upon any of the information provided. We recommend that you consult with a licensed, qualified investment advisor before making any investment decisions.