{"id":251329,"date":"2022-07-29T19:00:23","date_gmt":"2022-07-29T18:00:23","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=251329"},"modified":"2022-07-29T22:22:09","modified_gmt":"2022-07-29T21:22:09","slug":"gibraltar-minister-says-he-is-collecting-bitcoin-for-his-kids-future","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/gibraltar-minister-says-he-is-collecting-bitcoin-for-his-kids-future\/","title":{"rendered":"Gibraltar minister says he is collecting Bitcoin for his kids&#8217; future"},"content":{"rendered":"<p>British Overseas Territory of Gibraltar's Minister for Digital and\u00a0 Financial Services, Albert Isola, recently gave an interview to <a href=\"https:\/\/cointelegraph.com\/news\/i-have-bitcoin-for-the-benefit-of-my-kids-says-gibraltar-mp\"><em>Cointelegraph<\/em><\/a> and said he's collecting <a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">Bitcoin<\/a> for his kids because he thinks crypto adoption will soar in the future.<\/p>\n<p>He said:<\/p>\n<blockquote><p>\u201cI\u2019m not at the stage yet where it\u2019s something that I\u2019d use on a regular basis, it\u2019s more about buying some for the benefit of my kids in the years to come. I don\u2019t touch it.\u201d<\/p><\/blockquote>\n<p>Even though there are locations that <a href=\"https:\/\/cryptoslate.com\/banking-circle-adds-usdc-payments-and-fiat-conversion\/\">accept<\/a> payments in crypto, Isola said the actual adoption would increase further as more and more jurisdictions regulate it.<\/p>\n<h2>Gibraltar on crypto<\/h2>\n<p>Gibraltar has been making crypto-friendly decisions since 2018. At the beginning of 2018, Gibraltar passed a set of regulations regarding blockchain-related businesses. Then, the country <a href=\"https:\/\/cryptoslate.com\/gibraltar-moves-legalize-regulate-icos\/\">started<\/a> working on the rules for initial coin offerings (ICOs) and distributed ledger technology (DLT) in February 2018. At the time, Gibraltar was the first sovereign nation ever to regulate ICOs.<\/p>\n<p>In August 2018, the country <a href=\"https:\/\/cryptoslate.com\/first-football-team-gibraltar-united-to-pay-players-in-cryptocurrency\/\">announced<\/a> that it'll pay its football team in crypto the following season, making them the world's first football team ever to get paid in crypto.<\/p>\n<p>At the year-end of 2021, Gibraltar took its crypto-friendliness one step further by <a href=\"https:\/\/cryptoslate.com\/gibraltar-announces-integration-of-blockchain-with-public-services-adoption-is-coming\/\">deciding<\/a> to incorporate blockchain technology into governmental processes. In December 2021, the government announced deploying a blockchain-based pilot program to deliver public services.<\/p>\n<p>The country's most recent step in crypto <a href=\"https:\/\/cryptoslate.com\/gibraltar-introduces-regulations-to-tackle-crypto-market-manipulation\/\">regulations<\/a> was to protect its already grown crypto ecosystem. The Gibraltar government released new rules to limit prices, liquidity, or market information manipulation. With this, Gibraltar also became the first government to launch a regulatory framework for market integrity.<\/p>\n<h2>Rigid but open to collaborate<\/h2>\n<p>In October 2018, U.K. crypto exchange Coinfloor <a href=\"https:\/\/cryptoslate.com\/uk-crypto-exchange-coinfloor-first-to-receive-gibraltar-blockchain-license\/\">became<\/a> the first crypto company to receive a blockchain license from Gibraltar. The country's detailed regulations and long licensing process were perceived as rigorous at the time. Since then, the government has been rigidly applying its regulations while also adopting a partnership-focused approach to the crypto sphere.<\/p>\n<p>Isola explained they would never stretch the rules for anyone. He said:<\/p>\n<blockquote><p>\u201cIf they [DLT companies] are not prepared to meet the standards of regulation and quality that we aspire to, they will not be licensed.\u201d<\/p><\/blockquote>\n<p>Gibraltar is confident that its formula works because it has yielded excellent results already. The country has been applying the same strict yet partnering approach to the gaming industry since 2014. According to Isola, the formula worked so great that around 15 gaming companies are currently established in Gibraltar, and they account for 75% of the U.K.'s online gaming.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>British Overseas Territory of Gibraltar&#8217;s Minister for Digital and\u00a0 Financial Services, Albert Isola, recently gave an interview to Cointelegraph and said he&#8217;s collecting Bitcoin for his kids because he thinks crypto adoption will soar in the future. He said: \u201cI\u2019m not at the stage yet where it\u2019s something that I\u2019d use on a regular basis, [&hellip;]<\/p>\n","protected":false},"author":1262,"featured_media":251364,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gibraltar minister says he is collecting Bitcoin for his kids&#039; future<\/title>\n<meta name=\"description\" content=\"Gibraltar&#039;s Digital and Financial Services minister is collecting Bitcoin for his kids as he thinks adoption will increase tremendously.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/gibraltar-minister-says-he-is-collecting-bitcoin-for-his-kids-future\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gibraltar minister says he is collecting Bitcoin for his kids&#039; future\" \/>\n<meta property=\"og:description\" content=\"Gibraltar&#039;s Digital and Financial Services minister is collecting Bitcoin for his kids as he thinks adoption will increase tremendously.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/gibraltar-minister-says-he-is-collecting-bitcoin-for-his-kids-future\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-29T18:00:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-29T21:22:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/07\/bitcoin-savings.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Zeynep Geylan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Zeynep Geylan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/gibraltar-minister-says-he-is-collecting-bitcoin-for-his-kids-future\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/gibraltar-minister-says-he-is-collecting-bitcoin-for-his-kids-future\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/#person\",\"name\":\"Zeynep Geylan\",\"url\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/zeynep-geylan-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/zeynep-geylan-author-300x300.jpg\",\"caption\":\"Zeynep Geylan\"},\"jobTitle\":\"Journalist\",\"description\":\"Zeynep is an academic who turned to crypto in 2018. 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