In news that naturally doesn’t surprise our team here at TAG Consultancy, Gibraltar has once again emerged as a key destination – in this latest case, a jurisdiction of choice for crypto hedge funds.
A new annual research report has been released, focusing on the international Crypto Hedge Fund space. And the report ranked the British Overseas Territory as the third preferred jurisdiction for the domiciliation of hedge funds, ahead of the United States.
The statistics contained in the report, which were gathered in the first quarter of 2022, serve as further confirmation that funds are usually domiciled in the same parts of the world as traditional hedge funds.
And of course, Gibraltar’s own credentials in this regard should be no surprise. Not only is the territory renowned for its work with traditional hedge funds, but in recent years, it has developed a sophisticated body of regulation in relation to crypto and distributed ledger technology.
This, in turn, has led to Gibraltar being favoured by various leading and disruptive crypto funds, managers and exchanges.
“An extremely attractive domicile for international crypto and fintech businesses”
Jonathan Garcia, Partner at Gibraltar law firm ISOLAS LLP, said of the territory’s strong showing in the report: “It is encouraging to see these results show Gibraltar continuing to prosper in the crypto funds market.
“The Gibraltar Government constantly proves to be forward-thinking on blockchain and crypto, ahead of other jurisdictions. This, tied with the industry expertise, has made Gibraltar an extremely attractive domicile for international crypto and fintech businesses.”
Garcia expressed his confidence that “the sector will continue to thrive in the years to come”, adding that he expected Gibraltar to retain its status as a major jurisdiction for the domiciliation of hedge funds.
The report also indicated that the total Assets under Management (AuM) of crypto hedge funds around the world climbed to more than US$4.1 billion in 2021, compared to just over US$3.8 billion the year before that. This amounts to an 8% rise, despite the effects of the COVID-19 pandemic.
We can help place your firm in a strong position for crypto success
Alongside Gibraltar’s rise to prominence as a key crypto destination, our team at TAG Consultancy has developed wide-ranging services and solutions to assist individuals and organisations that are active in this sector.
Whether you are seeking out leading distributed ledger technology licensing services, wishing to launch an AML compliant ICO, or looking for an audit of crypto funds, our experts can be ready and waiting to assist you. Simply contact us now, via phone, email, or social media, to arrange the free consultation we offer to new clients.