{
 "jurisdiction_id": "GI",
 "jurisdiction": "Gibraltar",
 "url": "https://cryptoassets.gi/jurisdictions/gibraltar/",
 "generator": "render_jid v13.3.0",
 "date_modified": "2026-08-17",
 "schema_version": "crypto-v2.0.0",
 "counts": {
  "modules": 7,
  "sourced_findings": 24,
  "source_register": 30
 },
 "modules": [
  {
   "code": "crypto_licensing",
   "name": "Crypto Licensing",
   "confidence": null,
   "moved_this_cycle": false,
   "url": "https://cryptoassets.gi/jurisdictions/gibraltar/#crypto-licensing-crypto-licensing",
   "standing_position": "Gibraltar operates a mature, principles-based DLT Provider licensing regime under the Financial Services (Distributed Ledger Technology Providers) Regulations 2020, requiring firms that use distributed ledger technology to store or transmit value belonging to others to obtain a GFSC license before operating. Licensing is structured around ten guiding regulatory principles as of 2022, covering honesty/integrity, customer asset protection, cybersecurity, financial crime prevention and market integrity, with fees and supervisory scrutiny scaling with activity complexity. On 27 October 2025, the Financial Services (Regulated Activities) (Amendment) Regulations 2025 brought Virtual Asset Arrangement Providers into the Financial Services Act 2019 as a second regulated activity, requiring Part 7 GFSC permission for by-way-of-business exchange of virtual assets for fiat or other virtual assets, alongside the pre-existing DLT Provider custody licensing perimeter, with a 14-day notification and six-month application transition window. This latest expansion currently rests on secondary law-firm reporting rather than the primary statutory text.",
   "findings": [
    {
     "finding": "DLT providers using distributed ledger technology to store or transmit value belonging to others to obtain a license before operating",
     "instrument_type": "regulator",
     "source": "Gibraltar Financial Services Commission (GFSC)",
     "source_url": "https://www.coindesk.com/gibraltar-publishes-draft-regulations-for-blockchain-firms/",
     "source_tier": "4",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "ten guiding regulatory principles (expanded from nine in 2022) covering honesty/integrity, customer asset protection, cybersecurity, financial crime prevention and market integrity",
     "instrument_type": "guidance",
     "source": "GFSC DLT guiding principles",
     "source_url": "https://www.coindesk.com/policy/2022/04/27/gibraltars-government-targets-crypto-market-manipulation-with-new-rules",
     "source_tier": "4",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "activity complexity, with higher-risk categories (e.g. category three crypto derivatives trading) carrying substantially higher application fees and scrutiny",
     "instrument_type": "regulation",
     "source": "GFSC license category framework",
     "source_url": "https://www.coindesk.com/policy/2020/05/29/its-tough-getting-approved-in-gibraltar-says-green-lighted-crypto-derivatives-exchange",
     "source_tier": "4",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "Part 7 permission from the GFSC for Virtual Asset Arrangement Providers (VAAPs) conducting by-way-of-business exchange of virtual assets for fiat or other virtual assets, in addition to the pre-existing DLT Provider custody licensing perimeter; brings VAAs into the Financial Services Act 2019 (Part 16 Schedule 2, new paragraphs 139A/139B) as a second regulated activity, with a 14-day notification and 6-month application transition window",
     "instrument_type": "regulation",
     "source": "Financial Services (Regulated Activities) (Amendment) Regulations 2025",
     "source_url": "https://www.gibraltarlaw.com/insights/post/102lr9o/gibraltar-regulatory-update-virtual-asset-arrangements-now-fall-under-the-financ/",
     "source_tier": "3",
     "retrieved_at": "2026-08-03"
    }
   ]
  },
  {
   "code": "token_classification",
   "name": "Token Classification",
   "confidence": null,
   "moved_this_cycle": false,
   "url": "https://cryptoassets.gi/jurisdictions/gibraltar/#token-classification-token-classification",
   "standing_position": "Gibraltar has not adopted a codified statutory token classification scheme equivalent to MiCA. GFSC guidance distinguishes 'virtual assets' from higher-risk 'virtual asset denominated instruments' (VADIs) without creating a formal taxonomy. A subsequent GFSC Guidance Note on Scope of the DLT Framework, reportedly updated after the October 2025 VAA amendment, further distinguishes the DLT Provider pathway from the Virtual Asset Arrangement Provider pathway, though this development is not yet independently confirmed against primary sourcing. Separately, at least one Gibraltar-incorporated 2018 security-token-style offering was structured under general Gibraltar company and contract law rather than a dedicated statutory security-token regime, and the GFSC's 2020 guidance update restricts DLT providers from counting reserves of internally generated tokens toward regulatory capital following a public token offering, while adding stablecoin-specific risk-management content.",
   "findings": [
    {
     "finding": "'virtual assets' from higher-risk 'virtual asset denominated instruments' (VADIs) without creating a formal statutory classification scheme equivalent to MiCA",
     "instrument_type": "guidance",
     "source": "GFSC guidance on virtual assets vs VADIs",
     "source_url": "https://www.coindesk.com/markets/2020/09/17/gibraltar-updates-distributed-ledger-guidance-to-match-fatf-crypto-rules",
     "source_tier": "4",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "general Gibraltar company and contract law rather than a dedicated statutory security token regime",
     "instrument_type": "issuer",
     "source": "2018 Gibraltar-incorporated security-token-style offering",
     "source_url": "https://www.sec.gov/Archives/edgar/data/1748441/000164117225024991/ex-99.pdf",
     "source_tier": "3",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "DLT providers from counting reserves of internally generated tokens toward regulatory capital following a public token offering, and adds stablecoin-specific risk-management content",
     "instrument_type": "guidance",
     "source": "GFSC 2020 guidance update",
     "source_url": "https://www.coindesk.com/markets/2020/09/17/gibraltar-updates-distributed-ledger-guidance-to-match-fatf-crypto-rules",
     "source_tier": "4",
     "retrieved_at": "2026-08-03"
    }
   ]
  },
  {
   "code": "on_chain_activity_regime",
   "name": "On-Chain Activity Regime",
   "confidence": null,
   "moved_this_cycle": false,
   "url": "https://cryptoassets.gi/jurisdictions/gibraltar/#on-chain-activity-regime-on-chain-activity-regime",
   "standing_position": "Gibraltar has no activity-specific licensing category for staking, DeFi lending, or decentralized exchange (DEX) operation distinct from the general DLT/VAA licensing perimeter. The GFSC signalled intent in November 2022 to focus further regulatory development on DeFi lending without enacting a dedicated licensing category. Staking activity conducted for third parties would likely fall under the general DLT provider license, though no dedicated staking category exists. Similarly, no dedicated category exists for DEX operation beyond general DLT provider licensing, though this framing should be read alongside the October 2025 Virtual Asset Arrangement Provider amendment, which may bring by-way-of-business exchange/arrangement-of-exchange activity -- potentially including DEX-facilitation models -- within the regulated perimeter; this has not yet been independently confirmed against primary GFSC guidance.",
   "findings": [
    {
     "finding": "decentralized finance (DeFi) lending as a focus area for further regulatory development (Nov 2022), without enacting a dedicated DeFi lending licensing category",
     "instrument_type": "regulator",
     "source": "GFSC",
     "source_url": "https://www.coindesk.com/policy/2022/11/01/gibraltar-will-focus-on-stablecoins-and-defi-lending-after-market-turmoil",
     "source_tier": "4",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "staking activity; staking-related services would likely fall under the general DLT provider license if conducted for third parties",
     "instrument_type": "regulation",
     "source": "Gibraltar DLT framework",
     "source_url": "https://www.gfsc.gi/",
     "source_tier": "2",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "decentralized exchange (DEX) operation beyond general DLT provider licensing",
     "instrument_type": "regulation",
     "source": "Gibraltar DLT framework",
     "source_url": "https://www.gfsc.gi/",
     "source_tier": "2",
     "retrieved_at": "2026-08-03"
    }
   ]
  },
  {
   "code": "stablecoin_regime",
   "name": "Stablecoin Regime",
   "confidence": null,
   "moved_this_cycle": false,
   "url": "https://cryptoassets.gi/jurisdictions/gibraltar/#stablecoin-regime-stablecoin-regime",
   "standing_position": "Gibraltar lacks a dedicated statutory stablecoin issuance authorisation regime comparable to MiCA's e-money/asset-referenced token framework. The GFSC's 2020 guidance update added a dedicated section on stablecoin-specific risks within broader token-issuance guidance for DLT providers, and in November 2022 the GFSC signalled intent to further develop stablecoin-specific rules, but no codified reserve-composition or reserve-adequacy requirement specific to stablecoin issuers has been identified, and no enacted rule has been confirmed as of this cycle.",
   "findings": [
    {
     "finding": "a dedicated section detailing stablecoin-specific risks as part of broader token-issuance guidance for DLT providers",
     "instrument_type": "guidance",
     "source": "GFSC 2020 guidance update",
     "source_url": "https://www.coindesk.com/markets/2020/09/17/gibraltar-updates-distributed-ledger-guidance-to-match-fatf-crypto-rules",
     "source_tier": "4",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "a dedicated statutory stablecoin issuance authorisation regime akin to MiCA's e-money/asset-referenced token framework; GFSC signalled 2022 intent to further develop stablecoin-specific rules",
     "instrument_type": "regulation",
     "source": "Gibraltar stablecoin regime",
     "source_url": "https://www.coindesk.com/policy/2022/11/01/gibraltar-will-focus-on-stablecoins-and-defi-lending-after-market-turmoil",
     "source_tier": "4",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "a codified reserve-composition or reserve-adequacy requirement specific to stablecoin issuers",
     "instrument_type": "regulation",
     "source": "Gibraltar DLT framework",
     "source_url": "https://www.gfsc.gi/",
     "source_tier": "2",
     "retrieved_at": "2026-08-03"
    }
   ]
  },
  {
   "code": "consumer_protection",
   "name": "Consumer Protection",
   "confidence": null,
   "moved_this_cycle": false,
   "url": "https://cryptoassets.gi/jurisdictions/gibraltar/#consumer-protection-consumer-protection",
   "standing_position": "Gibraltar's consumer protection framework for crypto activity rests on the GFSC's principles-based DLT licensing conditions rather than a standalone crypto consumer-protection statute. Customer asset protection is a mandatory condition of holding a DLT Provider license under the founding guiding principles, and the tenth guiding principle added in 2022 requires DLT providers to maintain market integrity, including measures against price/liquidity/information manipulation and insider trading by employees. The GFSC has also issued an investor warning on ICO risks, developed alongside complementary token-sale guidance aligned with the DLT framework. No dedicated crypto-specific complaint-handling rule distinct from Gibraltar's general financial-services complaint-handling framework has been identified.",
   "findings": [
    {
     "finding": "DLT providers to protect customer assets as a mandatory condition of holding a DLT Provider license",
     "instrument_type": "guidance",
     "source": "GFSC founding DLT guiding principles",
     "source_url": "https://www.coindesk.com/gibraltar-publishes-draft-regulations-for-blockchain-firms/",
     "source_tier": "4",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "DLT providers to maintain market integrity, implementing measures against price/liquidity/information manipulation and insider trading by employees",
     "instrument_type": "guidance",
     "source": "GFSC tenth guiding principle (2022)",
     "source_url": "https://www.coindesk.com/policy/2022/04/27/gibraltars-government-targets-crypto-market-manipulation-with-new-rules",
     "source_tier": "4",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "an investor warning on initial coin offering (ICO) risks prior to developing complementary token-sale guidance aligned with the DLT framework",
     "instrument_type": "regulator",
     "source": "GFSC",
     "source_url": "https://www.coindesk.com/gibraltar-publishes-draft-regulations-for-blockchain-firms/",
     "source_tier": "4",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "a dedicated crypto-specific complaint-handling rule distinct from Gibraltar's general financial-services complaint-handling framework",
     "instrument_type": "regulation",
     "source": "Gibraltar DLT provider framework",
     "source_url": "https://www.gfsc.gi/",
     "source_tier": "2",
     "retrieved_at": "2026-08-03"
    }
   ]
  },
  {
   "code": "tax_treatment",
   "name": "Tax Treatment",
   "confidence": null,
   "moved_this_cycle": false,
   "url": "https://cryptoassets.gi/jurisdictions/gibraltar/#tax-treatment-tax-treatment",
   "standing_position": "Gibraltar's general tax regime structurally excludes capital gains from taxable corporate profit, per an EU Commission review of Gibraltar's corporate tax reform -- a general corporate finding rather than a crypto-specific ruling. No crypto-specific income tax guidance has been issued by the Gibraltar Income Tax Office, meaning crypto-asset trading businesses would generally fall within ordinary Gibraltar income/corporate tax rules absent such guidance. Crypto-specific VAT/GST treatment of digital-asset transactions has not been confirmed, nor has a crypto-specific tax reporting obligation distinct from general Gibraltar tax filing requirements been issued.",
   "findings": [
    {
     "finding": "capital gains from the calculation of taxable corporate profit, per an EU Commission review of Gibraltar's corporate tax reform (general corporate finding, not a crypto-specific ruling)",
     "instrument_type": "law",
     "source": "Gibraltar general tax regime",
     "source_url": "https://eur-lex.europa.eu/legal-content/NL/TXT/HTML/?uri=CELEX:52002XC1204(01)",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "crypto-specific income tax guidance; crypto-asset trading businesses would generally fall within ordinary Gibraltar income/corporate tax rules absent such guidance",
     "instrument_type": "regulator",
     "source": "Gibraltar Income Tax Office",
     "source_url": "https://www.gfsc.gi/",
     "source_tier": "2",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "crypto-specific VAT/GST treatment of digital-asset transactions",
     "instrument_type": "law",
     "source": "Gibraltar VAT/indirect tax regime",
     "source_url": "https://www.gfsc.gi/",
     "source_tier": "2",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "a crypto-specific tax reporting obligation distinct from general Gibraltar tax filing requirements",
     "instrument_type": "regulator",
     "source": "Gibraltar Income Tax Office",
     "source_url": "https://www.gfsc.gi/",
     "source_tier": "2",
     "retrieved_at": "2026-08-03"
    }
   ]
  },
  {
   "code": "cross_border_transfer",
   "name": "Cross-Border Transfer",
   "confidence": null,
   "moved_this_cycle": false,
   "url": "https://cryptoassets.gi/jurisdictions/gibraltar/#cross-border-transfer-cross-border-transfer",
   "standing_position": "Gibraltar-licensed DLT providers are not subject to a dedicated statutory outbound-restriction regime specific to cryptoasset transfers beyond general AML/sanctions-screening obligations under the Proceeds of Crime Act framework; substantive AML/CTF analysis of this framework is addressed separately under the financial-integrity monitor's aml_cft_regime subscription. Gibraltar's FATF/MONEYVAL follow-up assessment has not identified virtual-asset-transfer-specific cross-border sanctions provisions distinct from its general financial sanctions regime, and no cryptoasset-specific cross-border reporting threshold for outbound transfers has been identified.",
   "findings": [
    {
     "finding": "a dedicated statutory outbound-restriction regime specific to cryptoasset transfers beyond general AML/sanctions-screening obligations under the Proceeds of Crime Act framework (addressed separately under the financial-integrity aml_cft_regime subscription)",
     "instrument_type": "regulation",
     "source": "Gibraltar-licensed DLT providers",
     "source_url": "https://www.fatf-gafi.org/content/dam/fatf-gafi/fsrb-fur/MONEYVAL-FUR-Gibraltar-Dec-2021.pdf.coredownload.inline.pdf",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "virtual-asset-transfer-specific cross-border sanctions provisions distinct from its general financial sanctions regime, per its FATF/MONEYVAL follow-up assessment",
     "instrument_type": "law",
     "source": "Gibraltar sanctions framework",
     "source_url": "https://www.fatf-gafi.org/content/dam/fatf-gafi/fsrb-fur/MONEYVAL-FUR-Gibraltar-Dec-2021.pdf.coredownload.inline.pdf",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "a cryptoasset-specific cross-border reporting threshold for outbound transfers",
     "instrument_type": "regulation",
     "source": "Gibraltar cryptoasset framework",
     "source_url": "https://www.gfsc.gi/",
     "source_tier": "2",
     "retrieved_at": "2026-08-03"
    }
   ]
  }
 ]
}