Albert Isola, Member of Parliament for Gibraltar, described Gibraltar’s regulatory environment in a recent interview. The 58-year-old politician shares the cryptocurrency he’s keeping for his children.
Gibraltar played an important role in the regulatory framework for cryptocurrencies
In Europe, the British Overseas Territory of Gibraltar, located at the southern tip of Spain, is a bubbling hotspot for cryptocurrency adoption. Albert Isola, Minister of Digital and Financial Services for the Government of Gibraltar, explained the region’s approach to crypto in a recent interview. He gave details about his own investments. Isola played a pivotal role in guiding Gibraltar’s purpose-built distributed ledger technology (DLT) regulatory framework. However, he is also a Bitcoin supporter.
What cryptocurrencies are in Albert Isola’s basket?
Speaking from the Ministry offices in Gibraltar, Isola answers the question, “I have Bitcoin”. He details his choice with the following statements:
I’m not at a stage where I’m going to use it regularly yet, it’s more about buying something for the benefit of my kids for years to come. I’m not touching.
Gibraltar is an attractive regulatory jurisdiction for crypto companies. After 2018, when the DLT legislation came into effect, more and more companies are considering the European region. Additionally, Xapo, a Bitcoin-based private bank, has recently chosen to open its international branch in Gibraltar.
Gibraltar has a dense cryptocurrency population
Indeed, despite a small population of 35,000 people, the region is quite dense in the crypto space. Crypto companies like Damex and Tap.global have had a presence in this small area of land. Plus, Mexican exchange Bitso partnered with Gibraltar late last year to digitize government services.
It was the last Bitcoin and cryptocurrency bear market when DLT regulation emerged in 2018. In the ensuing 2020 and 2021 bull market, Gibraltar picked up the prizes. The cryptocurrency market, which has seen many ups and downs so far, has received significant support from the region.
Fed rate decision encourages new crypto optimism
The Fed’s rate hike and Jerome Powell’s comments serve to revive the crypto market. Bitcoin consolidated higher on July 28, especially after Fed monetary policy changes fueled optimism in risk assets. BTC hit a local top of $24,294.79 a day later.
Meanwhile, popular Twitter analyst Crypto Tony said he would not be in a rush as the BTC price rallied on July 28. The technical analyst says he will look for long positions at $26,500 after closing above $23,450.
A very bullish daily close- we closed above the body of our resistance zone. A bearish retest/rejection would have had us closing below it. We may have just put in our higher low. On LTF, pullbacks to green are healthy- hold it on a retest and this is likely a full-on reversal. https://t.co/bgUEWpjJfh pic.twitter.com/FITJPNJRtL
— CrediBULL Crypto (@CredibleCrypto) July 28, 2022
Analysts are split on direction as Bitcoin continues to trade in critical resistance zones. As Kriptokoin.com, we have discussed the technical analysis of 7 experts in this article.
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