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‘I have Bitcoin for the benefit of my kids,’ says Gibraltar MP

Located in Europe, on the southern tip of Spain, the British Overseas Territory of Gibraltar is a bubbling hotbed of cryptocurrency adoption. 

In an interview with Cointelegraph, Albert Isola, Gibraltar’s Minister for Digital and Financial Services and a member of the country’s parliament, explained Gibraltar’s approach to crypto and shed some light on his own investment interests. 

Isola played a pivotal role in shepherding Gibraltar’s purpose-built distributed ledger technology (DLT) regulatory framework. However, he’s also a Bitcoiner.

Isola (left) in front of a picture of the Gibraltar peninsula, known as “The Rock.”

Speaking from the Ministerial offices in Gibraltar, he told Joe Hall “I do have Bitcoin.” He continued:

“I’m not at the stage yet where it’s something that I’d use on a regular basis, it’s more about buying some for the benefit of my kids in the years to come. I don’t touch it.”

While spending Bitcoin (BTC) at one of the Costa Coffee’s that now accept Bitcoin in Gibraltar might not be his thing, he explained that adoption of Bitcoin is going to increase, “as more and more jurisdictions begin to regulate it:”

“I’m not at the stage yet where it’s something that I’d use on a regular basis, it’s more about buying some for the benefit of my kids in the years to come. I don’t touch it.”

Gibraltar is an appealing regulatory jurisdiction for crypto companies. Since 2018, when distributed ledger technology (DLT) legislation came into force, more and more companies have considered the European territory. Obi Nwosu, co-founder and CEO of Fedi, told Cointelegraph, “In the realms of regulated jurisdictions, Gibraltar has always been the most interesting.” He brought Coinfloor (now CoinCorner) to Gibraltar four years ago, following the 2018 regulations.

Xapo, a Bitcoin-based private bank recently chose to open its international branch in Gibraltar. Its CEO Wences Casares is known as “Patient Zero” after orange-pilling Silicon Valley executives, while the Xapo offices are carved out of Gibraltar’s…

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