GIBRALTAR Law and Practice Contributed by: Aaron Payas, Jeremy Requena, Jerome Compson and Reece Atkinson, Hassans
1.1.5 Industry and Trade Bodies In 2018, the Gibraltar Association for New Technolo- gies (GANT) was established. GANT’s aim is to provide a platform for the exchange of information regarding new technologies such as Distributed Ledger Technology (DLT), blockchain tech- nology, and underlying cryptocurrencies. The associa- tion has close industry and government ties which allows it to provide a place for discussion of profes- sional and innovative ideas. 1.2 Crypto-Assets 1.2.1 Property Considerations Recognition of Crypto-Assets as Property Gibraltar law does not contain an explicit statutory definition classifying crypto-assets as property. How- ever, under the common law system applied in Gibral- tar, there is a strong basis for treating crypto-assets as a form of property. Courts and legal practitioners generally follow English common law developments, and, following the enactment of the Property (Digital Assets etc) Act on 2 December 2025, crypto-assets are now recognised as property capable of being owned, transferred, and subject to proprietary rem- edies. In practice, Gibraltar’s regulatory framework implicitly treats crypto-assets as having proprietary characteris- tics, particularly in custody and client asset contexts. This position is widely accepted in commercial and regulatory practice. Transfer of Ownership of Crypto-Assets There is no bespoke statutory regime governing the transfer of crypto-assets in Gibraltar. Instead, trans- fers are analysed under common law principles, combined with the technical operation of the relevant blockchain. Ownership is typically evidenced and transferred through the control of private keys, with transactions validated and recorded on the distributed ledger. Contractual terms between parties, particularly those set by exchanges or custodians regulated by the GFSC, play a key role in determining when benefi-
cial ownership passes and what rights attach to the assets. Crypto-Assets as Collateral Using crypto-assets as collateral is legally permitted in Gibraltar and there are no statutory restrictions pre- venting such arrangements. In practice, parties typi- cally structure crypto collateral arrangements through contractual agreements, including pledge, charge, or title transfer arrangements, relying on common law principles. DLT Providers holding crypto-assets as collateral on behalf of clients must comply with the GFSC’s client asset protection requirements under Principle 5 of the DLT Framework. Practical challenges remain around enforcement, particularly regarding the identification and seizure of digital assets in the event of default, but the legal position is broadly supportive. 1.2.2 Access to Banking Gibraltar is a technologically progressive jurisdiction with a forward-thinking approach when it comes to innovative technologies. As such, several banks in the jurisdiction are pro-crypto and provide general bank- ing and payment services to such partners and firms. 1.2.3 ESG/Sustainable Finance There are no ESG/sustainable finance requirements in Gibraltar. 1.2.4 Tax Gibraltar’s tax regime has not been updated to con- sider the use of blockchain or digital assets. Instead, the existing tax regime applies. Gibraltar does not levy capital gains tax, but distin- guishing between capital and trading income is criti- cal. Frequent trading, staking, or business activity from Gibraltar may bring profits within income tax, creating uncertainty for active participants. 1.2.5 Insolvency In practice, the GFSC’s ongoing supervision of DLT Providers includes an assessment of wind-down pre- paredness under Principle 9 of the DLT Framework, which requires firms to be resilient and to develop contingency plans for the orderly and solvent wind- down of their business. The GFSC may also exercise its powers under Part 11 of the FSA, including issuing
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