Gibraltar Stock Exchange receives the purchase offer from Blockchain company-

The Gibraltar stock exchange, a British territory, has received a purchase offer from a blockchain company called Valereum. The purchase that is to be made in the new year could make the Gibraltar Stock Exchange the first stock exchange in which cryptocurrencies and stocks could be traded with cryptocurrencies. Regulatory authorities are currently examining this offer.

Gibraltar could become a crypto port

Gibraltar could write history as the territory in which the first mixed stock exchange is active with crypto-assets and stocks for investors. The main exchange of the British Territory, the Gibraltar Stock Exchange, has receive a purchase offer from Valereum, a blockchain company. The company based in Gibraltar wants to acquire 80 % of the stock exchange in question, with its real owner, the Global Stock Exchange Group, retains 20 % of the company.

The two companies An option for this takeover already in October, when the company announced its intention to complete this transaction. However, the details of the takeover were not published publicly. The Show Document option says:

The exercise of the option and the acquisition of 80 % of the GSX (the "acquisition") require the approval by the Gibraltar Financial Services Commission ("GFSC"). Valereum will obtain the approval of the GFSC to establish the GSX as one of the world's first fully regulated, integrated fiat and digital exchanges.

The report also states that the group will try to integrate cryptocurrencies into the stock exchange when the deal is successful.

regulatory complications

The possible approval of the agreement by the country's supervisory authorities has triggered a number of reactions from experts and people who observe the result. Richard Poulden, Chairman of Valereum, sees the transaction extremely positive and has explained that this is a step in the development of digital assets on the way to become tradable worldwide. However, not everyone is so optimistic about this likely deal.

Many hesitate to see what the effects on the supervision of other global regulatory groups such as the Financial Action Task Force ( Fatf ) could exercise the country. Charlie Steele, partner at Forensic Risk Alliance, a consulting company, says:

It could enable or relieve money laundering, sanction evasion, terrorism financing, so everyone is careful here too.

Valereum also signed a purchase contract with the Juno Group, a trust company that will be able to provide custody services for the cryptocurrency systems acquired on the stock exchange, even if the transaction must be ratified by the supervisory authorities.

What do you think of the purchase of the Gibraltar stock exchange through Valereum? Tell us in the comment area below.

sergio goschenko

sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game when he entered the cryptosphere in December 2017. He has a computer engineering background, lives in Venezuela and is affected by the cryptocurrency boom at the social level via crypto success and how it helps the non-banks and under-sector.

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