Gibraltar introduced new rules aimed at curbing insider trading and market manipulation in the crypto industry.
On April 28, lawmakers published an amendment to existing laws and issued guidelines for cryptocurrencies operating within its jurisdiction.
The document requires crypto firms to respect the markets in which they operate. In addition, the Gibraltar Financial Services Commission empowers cryptocompanies to fight against manipulation or undue influence on prices, liquidity, market information or any other practice that damages market integrity.
In 2018, we were the first jurisdiction to create a legal and regulatory framework, and now we are the first jurisdiction to launch a market integrity framework.
The more international standards there are for this space, the more trust, use and acceptance around the world,” said Gibraltar’s Minister of Digital and Financial Services Albert Isola.
He added that by its steps the jurisdiction aims to attract a small number of quality firms.