Regulatory Alerts2025-03-28
GFSC Guidance Note on Scope of the DLT Framework
The Gibraltar Financial Services Commission issues this guidance to define the scope of the Distributed Ledger Technology Framework under the Financial Services Act 2019. It establishes that firms carrying on business in Gibraltar using DLT for the storage or transmission of value belonging to others must be authorized as DLT Providers. The document clarifies that in-scope activities include custodial wallet providers and exchanges, while out-of-scope activities encompass non-custodial services and proprietary trading, with regulatory assessment focusing on the level of control and economic substance exercised by the provider.
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