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Gibraltar’s financial services watchdog has awarded European cryptocurrency exchange Covesting its bespoke license for blockchain firms using distributed ledger technology. The move comes a few days after UK-based Coinfloor received Gibraltar’s first DLT Licence since the British overseas territory instituted its crypto regulatory framework.
Gibraltar Financial Services Commission (GFSC) requires licensed firms to demonstrate it has adequate financial resources, IT systems and controls to comply with anti-money laundering and terrorist financing rules.
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