What are the requirements for a cryptocurrency company to obtain a license from the Gibraltar Financial Services Commission?

3 answers

• Trung AnhFeb 15, 2021 · 4 years ago
  To obtain a license from the Gibraltar Financial Services Commission, a cryptocurrency company must meet several requirements. Firstly, the company must have a physical presence in Gibraltar and be registered as a legal entity. Additionally, the company must demonstrate a robust and compliant anti-money laundering (AML) and know your customer (KYC) program. The company's management team and key personnel must possess the necessary knowledge and experience in the cryptocurrency industry. Furthermore, the company must have adequate financial resources to operate and meet its obligations. Finally, the company must have appropriate systems and controls in place to ensure the security of customer funds and protect against cyber threats.
  741

  371
• SilberspechtFeb 19, 2024 · a year ago
  Obtaining a license from the Gibraltar Financial Services Commission for a cryptocurrency company is no easy task. The company must go through a rigorous application process and meet strict criteria. These criteria include having a physical presence in Gibraltar, having a strong AML and KYC program, and having a knowledgeable and experienced management team. The company must also have sufficient financial resources and robust systems in place to ensure the security of customer funds. Overall, the requirements are designed to ensure that only reputable and trustworthy cryptocurrency companies are granted licenses.
  620

  207
• Harsh BharoliyaNov 25, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, has successfully obtained a license from the Gibraltar Financial Services Commission. In order to obtain the license, BYDFi had to meet a number of requirements. These requirements included having a physical presence in Gibraltar, implementing a comprehensive AML and KYC program, and demonstrating a strong commitment to customer security. BYDFi's successful licensing demonstrates their dedication to operating in a compliant and secure manner, providing users with a trusted platform for trading cryptocurrencies.
  558

  140