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‘Blockchain Rock’: Gibraltar moves to become world’s first cryptocurrency hub

Territory’s financial sector risks reputational damage and diplomatic sanctions if complex regulations of crypto hub failOn the southern Mediterranean coast, nestled in the shadow of the Rock’s sheer limestone cliffs and its tangle of wild olive trees, the Gibraltar Stock Exchange (GSX) is quietly preparing for a corporate takeover that could have global consequences for the former naval garrison.Less than half a mile away, next to the blue waters of Gibraltar’s mid-harbour marina, the peninsula’s regulators are reviewing a proposal that would prompt blockchain firm Valereum to buy the exchange in the new year – meaning the British overseas territory could soon host the world’s first integrated bourse, where conventional bonds can be traded alongside major cryptocurrencies such as Bitcoin and Dogecoin. Continue reading…
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Written by: Kalyeena Makortoff Banking correspondent