Bitcoin and other cryptocurrencies could start trading in Gibraltar

It is one of the most important financial news of this beginning of 2022: Gibraltar is on its way to becoming the first place in the world where cryptocurrencies are traded, that is, you have a bag specifically for these virtual currencies.

The Valereum firm, one of the main ones in the negotiation of cryptocurrencies on the network, wants to buy the gibraltarean bag so that there is also a “physical” negotiation of assets that are increasingly widespread in the financial system.

A surprising news because we all know the fame that Gibraltar has: for years it has been considered (and for many it still is) a tax haven, a place where numerous companies have established themselves to benefit from its lax tax system.

Now if what is done The Guardian newspaper announced exclusively, it would become a place of reference in the world for the virtual currency market, since it would be the first to be regulated.

Why Gibraltar

Right now, the 82 employees of the Peñón financial regulation offices are studying this operation, if it has sufficient guarantees and is likely to prosper, since Valereum is a company with only three people behind it. The advantage is that it is of Gibraltarian nationality and is already known as a firm for the exchange of physical currencies to crypto and vice versa.

Countries like China and the UK itself have resigned to be the first to own a cryptocurrency exchange, but Gibraltar seems to have a compelling reason to accept this challenge: become a world reference center when it comes to investment of this type.

Evidently, the risk is very high, but it is already known, the one who hits first, hits the hardest, so if everything goes well, it would be in a very advantageous position that would translate into a benefit for the entire colony: numerous investment firms would be located there, generating jobs and wealth. But of course, if it fails it puts its reputation at risk.

Above all because it can be a pole of attraction to carry out fraudulent operations, such as money laundering, by investing in crypto. And just when Gibraltar is taking off the sanbenito of tax haven, it would be a very important step backwards.

Valereum owner Richard Poulden is confident that blockchain technology is enough to detect potential criminals, but the risk is great.

Therefore, Gibraltar faces a historic financial opportunity that can shape the future of the market, making the “feared and unknown” Bitcoin more accessible and normalizing the future of investments. Of course, it is a challenge of height.

The advantage for Spain

The good news for Spain is that, without lifting a finger, can benefit greatly of this operation if it goes ahead. Because having the cryptocurrency exchange “next to home” can make you a pole of attraction for investors and companies.

It is possible that, given the proximity, many crypto investment firms are located in our country, in the vicinity of Gibraltar, and that could generate wealth in a very needy area, the Campo de Gibraltar, one of the areas with the most unemployment in Spain .

Although it is advisable to be prudent. First, that the crypto reaches the Rock. If they arrive.

Source: El Blog Salmón by

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