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 tradedthat is, that it has an exchange specifically for these virtual currencies.

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

A news that surprises 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 you carry out what The Guardian newspaper announced exclusively, it would become a reference place in the world for the virtual currency market, since it would be the first regulated one.

Why Gibraltar

Right now, the 82 employees of the financial regulation offices of the Rock are studying this operation, if it has sufficient guarantees and signs of success, 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 an exchange firm for physical currencies to crypto and vice versa.

Countries like China and the UK itself have given up to be the first to have 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, whoever hits first, hits harder, so if all 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 he fails he puts his reputation at stake.

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 removing the label of a tax haven, it would be a very important step backwards.

What is staking: the way to make cryptocurrencies like Cardano or DAI profitable just by having them (and with some risk)

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

Therefore, Gibraltar has before it a historic financial opportunity that can mark the future of the market, making the “feared and unknown” Bitcoin more accessible and normalizing the future of investments. Yes, it is a tall challenge.

The advantage for Spain

The good news for Spain is that, without lifting a finger, can be very beneficial 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 will be 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 cautious. First, let the crypto reach the Rock. If they arrive.

Leave a Comment