Gibraltar Creates A Bill That Supports Cryptocurrency’s Reputation
All cryptogamers rejoice! What you guys probably know about the tropical heaven paradise of Gibraltar is that it’s shockingly beautiful, its legal framework allows unprecedented opportunities when it comes to online gambling, and that it kind of takes of orders from the UK – but really listens to no-one.
Well, just when you thought it doesn’t get any more epic – Gibraltar has released the world’s first framework of its kind designed to protect users of Lightcoin, Etherium, and Bitcoin in response to the latest news in the online gambling industry. Nick Gomes of the Gibraltar Financial Services Commission points out he and his team are “impatiently looking forward to many new innovative projects <to do with cryptocurrency in Gibraltar>.” Gibraltar is doing everything it can to become the center of the world’s crypto-economy much in the same way Dubai is quickly moving toward becoming the first city in the world powered by Blockchain.
Bitcoin is taking the world by storm, making heaps of money for lucky users who were smart enough to dig the market and get some back in the day when they cost next to nothing. Even those who jumped on the bandwagon later got very rich very quick thanks to huge price hikes. Are you one of the select few? You’ll be glad to hear Bitcoin is now becoming accepted in even more niches all around the world – and if anything, Gibraltar has your back.
With cryptocurrency’s brutal rates of growth, wide usage of cryptocurrency in business, and ICOs anywhere you look (you can’t spit without hitting an ICO these days) you’d be missing out if you didn’t give at least a Bitcoin faucet a try. Some casinos we know offer ridiculous amounts of satoshi as a joining bonus: after all, millions of people who increased their investments x15 cannot be wrong. So how does this world of instantaneous transactions, unlimited possibilities, and flash play work exactly?
How Does DLT work?
You already know, the chances are, that Bitcoin is not associated with tangible assets, meaning the price for it is only backed up by its demand. The government of Gibraltar in association with the Legislature of Gibraltar created something called The Digital Ledger Technology, which now means that any transactions in this field will be governed by the Gibraltar Financial Services Commission, which looks after its users’ safety much in the same we look after yours (but obviously they’re not as cool as us).
What Does That Mean For You?
Gibraltar is not only heavenly beautiful. It also has a very flexible taxation system, which, considering it’s close friends with the UK, one of the most allowing systems in the world when it comes to gambling, makes it a perfect place for crypto investors from all over the planet. Which means a lot of funds in cryptocasinos and even better CG, payouts, and functioning. Along with Malta Gibraltar are actively planning to introduce a system for crypto regulation that will make Bitcoins even safer – as well as cryptoATMs, tiny crytpowallets, and a lot more exciting stuff, so keep track of our blog for more recent news and updates.