Gibraltar pioneered the world's first purpose-built regulatory framework for blockchain and distributed ledger technology (DLT) businesses in 2017. The Proceeds of Crime Act 2015 (Transfer of Virtual Assets) Regulations 2021 (POCA) enforces the crypto Travel Rule, effective since March 22, 2021. Gibraltar's Virtual Asset Service Providers (VASPs) benefited from an 18-month grace period, with full compliance required by September 22, 2022.
Key Compliance Milestones
- October 12, 2017: Gibraltar introduced the DLT Regulatory Framework.pdf).
- March 3, 2021: POCA mandated the Travel Rule, effective March 22, 2021.
- September 22, 2022: Grace period ended; full enforcement began.
👉 Download FATF Travel Rule Requirements for Gibraltar
FAQs
1. Is cryptocurrency legal in Gibraltar?
Yes. Gibraltar’s DLT Framework (2018) regulates crypto businesses, ensuring transparency and consumer protection.
2. Are there AML regulations for crypto in Gibraltar?
Absolutely. The DLT Framework includes anti-money laundering (AML) provisions, requiring systems to detect and prevent financial crimes. The Gibraltar Financial Services Commission (GFSC) issues guidance notes to aid compliance.
3. Is the Travel Rule mandatory?
Yes. POCA enforces the Travel Rule for transactions ≥ €1,000.
4. Who regulates crypto in Gibraltar?
- GFSC: Oversees DLT compliance.
- Gibraltar Financial Intelligence Unit (GFIU): Manages suspicious transaction reports (STRs).
FATF Travel Rule Requirements
Licensing for VASPs
DLT providers must obtain a license from the GFSC.
Grace Period
An 18-month grace period ended on September 22, 2022.
Transaction Threshold
Travel Rule applies to transfers ≥ €1,000 ("material transactions").
Required PII
Originating VASPs must share:
Originator’s and beneficiary’s name and:
- Address, or
- National ID number, or
- Customer ID, or
- Date/place of birth.
Non-Custodial Wallets
- Receiving VASPs: Must collect originator PII.
- Sending VASPs: No Travel Rule requirements.
Cross-Border vs. Domestic Transfers
Same PII requirements apply.
Compliance Solutions
Notabene offers tools for real-time risk assessment and counterparty due diligence. Their SafeTransact platform automates Travel Rule workflows, including test environments for VASPs.
👉 Explore Notabene’s Compliance Platform