The stock exchange in Gibraltar, the British territory, received an offer to acquire a blockchain company called Valereum. This purchase will take place in the New Year, and if valid, it may make the Gibraltar Stock Exchange the first exchange that can trade cryptocurrencies and stocks with cryptocurrencies. Regulators are currently reviewing this proposal.

Gibraltar may become a cryptocurrency safe haven

Gibraltar may become the first region to operate a hybrid exchange, which provides investors with crypto assets and stocks.The Gibraltar Stock Exchange, the main exchange in the British Territory, has received Purchase offer from the blockchain company Valereum. The company is headquartered in Gibraltar and will seek to acquire 80% of the shares of the aforementioned exchange, and its actual owner, Global Stock Exchange Group, holds 20% of the company.

Two companies sign As early as October, the company announced its intention to complete the transaction. However, the details of the acquisition have not yet been announced to the public. The option display document states:

The exercise of options and the acquisition of 80% of GSX (the “acquisition”) must be approved by the Gibraltar Financial Services Commission (“GFSC”). Valereum will seek approval from the GFSC to establish GSX as one of the world’s first fully regulated, integrated legal and digital exchanges.

The report also stated that if the transaction passes, the group will seek to integrate cryptocurrency into the exchange.

Regulatory complications

The transaction may have been approved by the country’s regulatory agencies, which has aroused a series of reactions from experts and people observing the results. Richard Poulden, chairman of Valereum, is very positive about this transaction and stated that it is a step in the development of digital assets becoming tradable on a global scale. However, not everyone is so optimistic about this possible deal.

Many people are hesitant about the impact this may have on the supervision of other global regulators, such as the Financial Action Task Force (Financial Action Task Force), can exert influence on the country. Charlie Steele, a partner at the consulting firm Forensic Risk Alliance, said:

It can facilitate or promote money laundering, evasion of sanctions, and terrorist financing, so everyone is also vigilant about it.

So valerian sign The purchase agreement with Juno Group, a trust management company, can provide custody services for cryptocurrency assets acquired on exchanges even if the transaction requires regulatory approval.

What do you think of Valereum’s acquisition of the Gibraltar Stock Exchange? Tell us in the comments section below.

Sergio Goshenko

Sergio is a cryptocurrency journalist based in Venezuela. He described himself late and entered the crypto space when prices rose in December 2017. With a background in computer engineering, living in Venezuela, and socially affected by the cryptocurrency boom, he offers a different perspective on the success of cryptography and how it can help the unbanked and underserved people.

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