“When, for instance, e-gaming was in its infancy, it faced many similar challenges that the crypto world does today. Despite this, Gibraltar has foreseen the potential in the e-gaming industry and developed supportive regulation to welcome a few of the most reputable companies. Thus, their approach worked, which resulted in changing the perception of e-gaming, and the industry began to flourish. As of now, not one of the 30+ Gibraltar-based gaming companies have failed and they took the biggest share of the market. When comparing this with other jurisdictions, there is an obvious difference, as Gibraltar choose quality over quantity.

It’s the careful market oversight that not only has created more jobs and affected the growth, and also protected the jurisdiction’s reputation and integrity. Right now, only 25 years later, Gibraltar finds itself in a familiar situation with blockchain technology and cryptocurrencies,” Goncharenko explains.

Kate Goldfinch, editor of The Fintech Times