How is Bitcoin doing in Gibraltar? A Gibraltar minister believes in the future of BTC. He considers the crypto currency to be a promising investment and therefore already invests funds for his descendants. However, he does not use the digital currency in his everyday life.
Albert Isola Buys BTC for Future Profits
Albert Isola is a Member of the Parliament of Gibraltar and the Gibraltar Minister of Digital and Financial Services. He played a decisive role in the development of the DLT law enacted in 2018.
The law sought to make Gibraltar an attractive location for blockchain companies. Obi Nwosu, managing director of the industry company Fedi, considers Gibraltar one of the most promising locations.
In the field of regulated jurisdictions, Gibraltar has always been the most interesting country.
Isola, who campaigned for the development of the crypto industry in his country, is himself a Bitcoin investor. He considers BTC a promising investment for the future. Seen over many years, he expects high returns.
At 58, Isola is not the typical crypto investor. He is already investing for his descendants today, although the benefits of digital assets do not play a role in his everyday life.
I own Bitcoin. I am not yet ready to use it regularly, but I rather buy it to make it available to my children in the coming years. I’m not touching him at all.
The politician reveals in a conversation with Cointelegraph. According to his assessment, global Bitcoin adoption will increase sharply over the coming years. However, this requires state legislation.
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Crypto Companies Settle in Gibraltar
The Gibraltar policy’s plan to turn the small country at the southern tip of the Iberian Peninsula into a location for the young crypto industry seems to be succeeding. Obi Nwosu spent his crypto exchange CoinCorner to Gibraltar.
Bank Xapo, which focuses on cryptocurrencies, also opened a branch in Gibraltar, just like crypto banks Damex and Tap.global.
The Mexican crypto exchange Bitso is even cooperating with the Gibraltar authorities to digitize government services. However, Xapo-COO Anouska Streets draws attention to strict regulations in Gibraltar. These are “no joke,” he says.
Isola mentions that stricter regulations have recently been enacted to prevent market manipulation.
If the companies are not willing to follow our standards, they will not get a license.
Explains the minister. He also points to past strategies that underline Gibraltar’s potential. In 2014, the gaming industry was envisaged and it has now been achieved that three quarters of online gaming within the UK is directed by companies based in Gibraltar.
That number includes 15 different companies. But the land of the tiny British overseas territory is quite limited. Today, almost 35,000 inhabitants already live on the existing 6.5 square kilometers.
Gibraltar has a higher population density than Berlin. Due to its rocky landscape, it is not very easy to cultivate and inhabit. In the past, the rocks served as the basis for military fortifications.
Meanwhile, however, they are taking on a role as a hostel for crypto companies. Xapo’s quarters were milled into an ancient defensive structure.
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