eToroX bags DLT licence in Gibraltar

“We are proud to say that we are amongst the first companies in the world to obtain a licence for cryptoassets and one of very few regulated companies in the crypto space"

eToroX, the digital asset subsidiary of investment platform eToro, has been granted a distributed ledger technology (DLT) licence from the Gibraltar Financial Services Commission (GFSC).

Also of interest: eToro makes another crypto move

“We believe that a strong system of regulation will support the mass adoption of blockchain technology, including cryptoassets. We don’t need to reinvent the wheel to regulate blockchain. Whilst blockchain brings some unique challenges to regulators, we can protect users and help support new ideas by applying the same fundamental principles as we have in other financial markets,” says Doron Rosenblum, Managing Director of eToroX.

“The GFSC has been forward-thinking in developing this framework and we hope it serves as a blueprint for other markets. The licence process has been thorough but by working closely with the GFSC we are pleased to say that we now have a licence and look forward to supporting the growth of tokenized assets.”

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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