The blockchain investment and advisory firm said it had set up Coinsilium (Gibraltar) Limited (CGL), a subsidiary that it will use to grow its business in the jurisdiction.
The company had previously voiced its intentions back in January to move its core operations out of London to Gibraltar in order to reduce operating costs and put more resources into its investment activity and advisory services.
Progressive on Crypto
Gibraltar is also one of the most developed territories when it comes to the regulation of crypto, having legal and regulated exchanges as well as exempting cryptocurrencies from capital gains and dividend taxes.
Malcolm Palle, the executive chairman of Coinsilium who is also relocating to Gibraltar to help set up CGL’s operations, said the company had already advised multiple blockchain and cryptocurrency firms in the territory, including the Gibraltar Blockchain Exchange, and was “looking to build close relations with a wider group of businesses”.
“We look forward to working with our partners to leverage the tremendous potential the Gibraltar opportunity offers."
In late-afternoon, Coinsilium shares, which are traded on the NEX exchange, were at 2.6p.
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