Gibraltar has revealed that ‘up to 200’ applications for prospective ICOs have come to them ahead of the proposed launch of its Gibraltar Blockchain Exchange (GBX).
The country previously announced the development of the world’s first ICO regulations, looking after the promotion, sale and distribution of digital tokens within the territory.
Nick Cowan, GBX chief executive, told the Financial Times (via CoinTelegraph): “GBX has to date been approached by up to 200 applicants seeking to launch their ICO through the Gibraltar Blockchain Exchange.”
“[GBX is] scaling up its regulatory team to cope with the demand to ensure it hits its target of five day turnaround on ICO applications for first response,” he added.
Earlier this month, Gibraltar announced it would regulated all ICOs as commercial products, saying: “In common with governments and regulators around the world, HM Government of Gibraltar and the Gibraltar Financial Services Commission have observed the rapidly rising use of ICOs as a means of crowd financing.
“Since announcement of the DLT regulatory framework in May 2017, Gibraltar has become, and is expected to remain, an attractive jurisdiction from which to conduct unregulated ICOs.”