Gibraltar has once again taken important steps in furthering its position as the global leader in the emerging crypto sector.
At a breakfast meeting in London in late October, the Gibraltar Funds and Investments Association (GFIA) — of which Triay and Triay’s Jay Gomez is Deputy Chairman — announced the publication of the world’s first Code of Conduct for Crypto Funds as well as the amendment of Gibraltar’s Experienced Investor Funds regulations 2018.
Due to an increasing number of crypto funds basing themselves in Gibraltar, the GFIA correctly saw that there was a need to launch a code of conduct that would help promoters and service providers address issues that are specific to crypto funds. Furthermore, when coupled with the Experienced Investor Funds (EIF) amended legislation, it is widely anticipated that this new Code has the potential to boost Gibraltar’s funds and asset management industries; firmly establishing Gibraltar as the premier jurisdiction for crypto funds and managers.
The GFIA is also hopeful that other jurisdictions might adopt the Gibraltar model, given that solid guidelines, like the Code, are in short supply.
It was said at the breakfast that “the Code shows that the funds industry in Gibraltar is proactive and innovative and has a deep commitment to the principles of investor protection and corporate governance. I am delighted that even being from a small jurisdiction we were able to issue such a groundbreaking Code.”
Gibraltar’s Minister for Financial Services and Gaming also praised the new Code of Conduct, saying: “As we work to deliver best practice across our sector, I am pleased to welcome the work of GFIA in delivering their new Code of Conduct in this exciting and innovative area”.
Triay welcomes the publication of the Code, which provides clear and much needed guidance for this asset class.