British territory based stock exchange may allow crypto-stock trade
Blockchain firm Valereum purposed a purchase offer for the stock exchange of Gibraltar.
Gibraltar Stock Exchange is a British territory-based exchange. And recently this stock exchange received a purchase offer by Valereum, a blockchain firm. If both parties agree then in that situation, Gibraltar Stock exchange will become the first-ever crypto exchange in the world to allow the buy and sell of stocks and shares with crypto assets, which means stock & crypto assets will remain under a single roof.
The Gibraltar-based firm is looking to own 80% of the stakes in the exchange and 20% with its main owner company Global Stock Exchange Group.
Both these two companies signed for the same in October 2021. The company publicly announced that the company wants to complete this deal. But the details on the acquisition or purchase are still under the private domain of these two companies.
“The exercise of the Option and the acquisition of 80% of the GSX (the “Acquisition”) are subject to approval by the Gibraltar Financial Services Commission (“GFSC”). Valium will seek approval from GFSC to establish the GSX as one of the world’s first fully regulated, integrated fiat and digital exchanges, document stated”
However, this is only a plan by the two companies but it will be interesting to see whether this deal will get done by the regulator’s approval.
Most of the experts are giving attention to this matter and they don’t think that it will be easy under any condition.
Valereum chairman, Richard Paulden, said that he is positive about this deal and this will push the adoption & evolution of digital assets.
Charlie Steele, a partner at Forensic Risk Alliance, a consulting firm, shared his stance and showed his disagreement with such kinds of initiatives and claimed that these plans will allow only money laundering type activities.
Charlie stated:
“It could enable or facilitate money laundering, sanctions evasion, terrorist financing, so everyone’s wary of that as well”
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