Crypto Assets
& DLT

Overview

Gibraltar is a world-leading hub for crypto asset and distributed ledger innovation and entrepreneurs.

It was one of the first countries in the world to regulate DLT custodians and remitters and it has an efficient VASP registration regime to enable crypto asset operators to meet their AML obligations.

Services

We advise clients on:

how to set up a crypto fund and Ramparts is also a major crypto asset fund administrator;
token sales;
registering as a VASP;
authorisation as a custodian or exchange;
multi-national licensing and regulation including UK and EU law;
introducing blockchain solutions into their industries and process flows.

We can assist with the available technology options in the market and the key regulatory and legal issues involved when implementing these new technologies, trading or converting crypto assets and in fund-raising.

Our experts also advise on the financial promotion and securities laws relevant to fund-raising and tokenisation of securities. We also assist with company incorporation and bank account opening, procuring payment service provider partners and consulting on corporate structure and UBO tax issues.

Ramparts helps clients throughout the VASP registration or DLT authorisation process. We liaise with the GFSC’s DLT team to discuss the application proposal, business model, envisioned activities and services to be provided in or from Gibraltar.

You can see our guide to Gibraltar crypto asset laws here.

What do clients say?

"We have been working with Peter and the team at Ramparts for years as our trusted corporate and legal advisors. We like the positivity, creativity and respect they bring to doing business together – this attitude and flexibility has made it easy to outsource some of our legal and compliance support to Ramparts since we know they will treat our clients in the same way. They get crypto!"

Leor Tasman Co-Founder & CEO of lqfi

VASP Registration / DLT Authorisation

Virtual Asset Service Provider (VASP) Registration

Regulated by Gibraltar Financial Services Commission
A VASP registration is required for Anti-Money Laundering/Combating the Financing of Terrorism (AML/CTF) enforcement purposes for persons involved in converting crypto-assets (including undertaking token sales).
Ramparts has experience with assisting many businesses throughout the VASP registration process with the GFSC. We offer competitive fixed-fee packages wherein we support clients with the VASP registration process, provide suitable AML policies and procedures, and give you guidance as to your ongoing responsibilities and future de-registration obligations.
Our fiduciary company also provides support with corporate secretarial functions regarding the Gibraltar entity registering as a VASP, including accounting and tax filings.
Must have at least one local director and an approved Money Laundering Reporting Officer

DLT Provider Regime

The DLT Provider authorisation regime applies if acting as a custodian or remitter.
It is a specified activity under the Financial Services Act 2017 (FS Act)).
The Financial Services (Distributed Ledger Technology Providers) Regulations 2020 (DLT Regulations) sets out the GFSC’s DLT Provider authorisation process and requirements.
Most notably, the GFSC must be satisfied that the applicant will at all times comply with the 10 regulatory principles contained in the DLT Regulation’s schedule.
There is a general prohibition under the FS Act regarding the carrying out of a regulated activity in or from Gibraltar (or purporting to do so) if they are not authorised.
The GFSC actively encourages applicants to seek professional Gibraltar advice to help determine whether the company’s proposed business model will fall within the scope of the FS Act.

Case Studies

Enabling crypto projects to register as Virtual Asset Service Providers (VASPs) and advising on the UK and Gibraltar AML laws in respect of VASPs as well as FATF guidance on decentralised projects and DAOs.
Helping structure and set up crypto asset funds including private funds and Protected Cell Company Experienced Investor Funds that have multiple trading strategies and may be open or closed ended. We are leading crypto asset fund law firm and fund administrator.
Advising on the appropriate accounting and tax treatment of crypto assets and disposals in addition to anti-money laundering and counter terrorist financing requirements.
Incorporation and structuring of a private foundation under the Gibraltar Private Foundations Act, to enable a crypto project to fund projects and continuing network and community development, including the constitutional documents governing the foundations.