Regulatory Alerts2020-02-21
DLT Framework — Guidance Note 3 Resources
The Gibraltar Financial Services Commission issues Guidance Note 3 to define the operational, technical, and organizational standards for Distributed Ledger Technology Providers regarding adequate financial and non-financial resources. The document mandates that firms maintain sufficient regulatory capital composed of wind-down costs and risk-based capital, while strictly prohibiting the use of internally generated tokens and certain intangible assets in capital calculations. Additionally, providers must implement robust risk management, stress testing, insurance, and recovery plans to ensure solvency and orderly wind-down capabilities.
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