Is crypto legal in Gibraltar? Rules & regulation (2026)

Legal framework

Financial Services (Distributed Ledger Technology Providers) Regulations (part of the Financial Services Act 2019) plus VASP registration under the Proceeds of Crime Act 2015 (POCA); supervised by the Gibraltar Financial Services Commission (GFSC). From 2025, the Financial Services (Regulated Activities)(Amendment) Regulations 2025 brought 'virtual asset arrangements' formally within Part 7 authorisation under the FSA.

Status by sub-area

• Stablecoins

  Partial

  Gibraltar has no bespoke stablecoin law; the GFSC assesses stablecoins case-by-case. A stablecoin can fall within the Electronic Money Regulations 2020 if it represents a claim on an issuer, or within the DLT/securities regime depending on structure, but there is no dedicated reserve/redemption/attestation regime akin to EU MiCA.

  Still pending: Dedicated stablecoin regulation with reserve/redemption/attestation requirements not yet enacted

• Exchanges / VASP

  In force

  Crypto exchanges and other virtual-asset service providers are fully regulated in Gibraltar: they require a DLT Provider licence from the GFSC, must satisfy the ten Regulatory Principles including market integrity, and from 2025 also require Part 7 authorisation under the FSA for 'virtual asset arrangements'.

• Token Offerings

  Partial

  There is no dedicated ICO/STO statute; token issuers are regulated by economic substance. Security tokens fall under Gibraltar's Prospectus rules and MiFID-derived securities regime, while non-security token sales must register as VASPs under POCA and satisfy AML/CFT obligations from the moment expressions of interest are invited.

  Still pending: Dedicated ICO/STO statute establishing clear regulatory boundaries not yet enacted

• Custody

  In force

  Custody of client crypto is a core DLT activity and is caught directly by the GFSC's DLT Provider licensing regime; the fifth Regulatory Principle expressly requires protection of client assets, including segregation and safeguarding.

• DeFi

  Unclear

  Gibraltar has not published DeFi-specific rules; the GFSC applies its outcome-based DLT framework by economic substance, so a DeFi front-end, protocol operator or governance entity carrying on regulated activity in or from Gibraltar would still need DLT Provider authorisation or VASP registration, but purely decentralised protocols with no controlling person operate in a grey area.

  Still pending: GFSC DeFi-specific rules and guidance for protocols not yet published

• Tax

  In force

  Gibraltar's Income Tax Act 2010 applies to crypto on a source basis: there is no capital gains tax, no VAT and no withholding tax, but profits from a crypto-trading business accruing in or derived from Gibraltar are subject to corporate income tax (10%–15%). Whether an individual's crypto sale is taxable turns on the common-law 'badges of trade' test.

Key points: crypto & digital assets in Gibraltar

1. 01DLT Provider licensing regime

   Firms that use DLT for the transmission or storage of value belonging to others (exchanges, custodians, wallet providers, etc.) must be authorised by the GFSC as DLT Providers and comply with ten Regulatory Principles covering honesty & integrity, customer care, resources, risk management, protection of client assets, corporate governance, cyber-security, financial crime, resilience and market integrity.

   fsc.gi fsc.gi

2. 0210th 'Market Integrity' Principle

   A 10th principle added in 2022 requires DLT Providers to conduct themselves in a way that maintains market integrity, including monitoring for market abuse/manipulation, transparent price formation, fair access and robust consumer protection.

   fsc.gi gibraltar.gov.gi

3. 03VASP registration under POCA

   Under POCA 2015 (as amended, including the 2021 Registration Regulations), businesses that sell tokenised digital assets or otherwise conduct virtual-asset activities not caught by the DLT regime must register with the GFSC as VASPs and comply with full AML/CFT/CPF obligations, including MLRO appointment and KYC on ICO participants from the moment expressions of interest are invited.

   gibraltarlaw.com charltonsquantum.com

4. 042025 expansion – Part 7 authorisation for exchange services

   The Financial Services (Regulated Activities)(Amendment) Regulations 2025 classify 'virtual asset arrangements' (crypto-to-fiat, fiat-to-crypto, and crypto-to-crypto exchange) as a regulated activity under Part 16 of Schedule 2 FSA, so providers now require Part 7 permission from the GFSC in addition to any DLT Provider licence; native-token issuers remain within the POCA VASP registration regime.

   gibraltarlaw.com

5. 05Token offerings / ICOs

   There is no bespoke ICO/STO law: tokens are analysed by economic substance. Security tokens fall under the Prospectus Regulation and MiFID-derived securities rules, e-money-like tokens under the Financial Services (Electronic Money) Regulations 2020, and non-security utility/payment tokens through the DLT / VASP regime with full AML/CFT obligations.

   globallegalinsights.com charltonsquantum.com

6. 06Tax treatment

   Gibraltar imposes no capital gains tax, no VAT, no withholding tax and no dividend tax. Corporate income tax (15% general rate; 10% for certain trading businesses accrued in Gibraltar) applies to profits from crypto trading businesses; individual crypto sales are only taxable if they meet the 'badges of trade' test, otherwise they are treated as non-taxable capital gains.

   maint.loc.gov century21gibraltar.com

Timeline of decisions

1. 19 Oct 2026Decision
   Revolut secures Gibraltar crypto licence to support international expansion plans

   The Block

2. 27 Oct 2025Law · official
   Virtual asset arrangements become a licensable regulated activity

   Gibraltar amended the Financial Services Act 2019 (new paras 139A/139B, Part 16 Sch 2) so that exchanging virtual assets for fiat or other virtual assets now requires Part 7 GFSC permission, moving VASPs from mere AML registration to full prudential licensing.

   GFSC

3. 1 May 2024Law
   Core Principles and Consumer Duty Regulations 2024 introduced

   Gibraltar enacted the Financial Services (Core Principles and Consumer Duty) Regulations 2024 to drive better retail outcomes; licensed DLT/crypto firms dealing with retail clients must observe these duties alongside the DLT framework.

   Global Legal Insights

4. 27 Apr 2022Law · official
   10th Regulatory Principle on market integrity added to DLT framework

   Government amended the DLT Providers Regulations to add a 10th core principle requiring providers to prevent market manipulation and insider trading, setting market-abuse standards for crypto venues. Marks Gibraltar's push to be a high-integrity jurisdiction.

   Government of Gibraltar

5. 22 Mar 2021Law · official
   FATF Travel Rule transposed into Gibraltar law

   The Proceeds of Crime Act 2015 (Transfer of Virtual Assets) Regulations 2021 imposed originator/beneficiary information-sharing on VASPs for transfers of EUR 1,000 or more, with full compliance mandatory after an 18-month grace period (by 22 Sept 2022).

   Gibraltar Laws (Official Gazette)

6. 22 Mar 2021Law
   FATF Travel Rule transposed for virtual asset transfers

   The Proceeds of Crime Act 2015 (Transfer of Virtual Assets) Regulations 2021 took effect, requiring VASPs to collect and pass originator/beneficiary information for transfers of EUR 1,000 or more, aligning Gibraltar with FATF AML standards.

   Hassans (gibraltarlaw)

7. 12 Jan 2021Guidance · official
   Market Integrity Working Group convened for 10th Principle

   Government and industry leaders formed a working group to draft the DLT framework's 10th core principle on market integrity, beginning the process that produced the 2022 market-abuse rules.

   Government of Gibraltar

8. 17 Sept 2020Guidance · official
   GFSC refreshes DLT regulation and guidance notes

   The GFSC updated its DLT Provider guidance notes to capture the evolution of digital assets (including custody and token activity), modernizing the 2018 framework without new primary legislation.

   Government of Gibraltar

9. 9 Mar 2018Guidance · official
   Token Regulation proposals published (ICOs and secondary markets)

   Government released proposals to regulate token sales via 'authorised sponsors' and to license secondary-market token platforms (modelled on MiFID II/MiFIR), extending oversight beyond the DLT framework to token offerings and trading.

   U.S. Library of Congress

10. 1 Jan 2018Law · official
    DLT Providers Regulatory Framework comes into force

    Gibraltar's bespoke DLT regulatory regime took effect, requiring any firm using DLT to store or transmit customers' value to be licensed by the GFSC under ten principles, the world's first dedicated blockchain regulatory framework.

    GFSC

11. 12 Oct 2017Law · official
    Financial Services (DLT Providers) Regulations 2017 introduced

    Government laid the Financial Services (Distributed Ledger Technology Providers) Regulations 2017, confirming a January 2018 launch and establishing the legal basis for licensing crypto/DLT firms in Gibraltar.

    GFSC

Sources

1. 1.fsc.gi/FSC/distributed-ledger-technology-providers
2. 2.fsc.gi/uploads/Guidance%20Notes/Final%20-%20GFSC%20DLT%20Scope%20Guidance%20
3. 3.fsc.gi/uploads/Guidance%20Note%2010%20-%20Market%20Integrity%20GFSC%202022.p
4. 4.gibraltar.gov.gi/press-releases/working-group-convenes-to-deliver-10th-principle-of-gi
5. 5.gibraltarlaw.com/insights/post/102lr9o/gibraltar-regulatory-update-virtual-asset-arran
6. 6.globallegalinsights.com/practice-areas/blockchain-cryptocurrency-laws-and-regulations/gibralt
7. 7.charltonsquantum.com/gibraltar-virtual-assets-regulation/
8. 8.maint.loc.gov/law/help/cryptocurrency/block-rewards/gibraltar.php
9. 9.charltonsquantum.com/regulation-cryptocurrency-initial-coin-offerings-ico-gibraltar/
10. 10.century21gibraltar.com/news/gibraltar-one-of-the-best-tax-friendly-countries-in-europe