Koii obtains a VASP registration in Gibraltar

Hassans would like to extend warm congratulations to Koii TG Limited which has successfully registered with the Gibraltar Financial Services Commission (GFSC) under the Proceeds of Crime Act 2015 (Relevant Financial Business) (Registration) Regulations 2021 (RFBR Regulations). As a registered Virtual Asset Service Provider (VASP), the Company is allowed to receive proceeds from the sale of tokenised digital assets: https://www.fsc.gi/regulated-entity/koii-tg-limited-28204

The RFBR Regulations were introduced in Gibraltar two years ago in full compliance with the FATF’s Recommendations on Virtual Assets & VASPs. The registration regime is focused on AML compliance and allows token issuers, such as Koii TG Limited, to build confidently on solid, compliant foundations.

In addition, Koii has chosen Gibraltar to establish the Koii Foundation which will operate as an off-chain support vehicle for the Koii Network and ecosystem. Koii TG Limited is set up as a direct subsidiary of the Koii Foundation.

Koii TG Limited will sell KOII tokens which will support the Koii Network and ecosystem. Koii is a compute and data marketplace that gives enterprises and startups in AI and machine learning, among other industries, access to reliable & more affordable compute power while rewarding anyone in the world with a computer for supplying it.

Koii TG Limited's director, Al Morris, said, “We are pleased to be working with the Hassan’s team to establish a safe and transparent steward for the network.”

Aaron Payas, Partner at Hassans and lead counsel for Koii TG Limited, added, "We are delighted that Koii has secured a VASP registration with the GFSC. Koii continues to grow its presence in Gibraltar benefitting from our crypto-friendly but internationally compliant laws and regulations. In addition, the Gibraltar foundation is robust structure whilst retaining enough flexibility to support decentralised protocols such as the Koii Network. We look forward to continue working with Koii and to watching them extend their impressive growth to date."

Gibraltar and Hassans continue to lead the way in the crypto space. The ability to undertake a registered token sale from Gibraltar is extremely appealing to founders who want to build their projects in a compliant manner. In addition, the Gibraltar foundation is becoming the vehicle of choice for serious projects that want a robust and professionally run off-chain support vehicle for their decentralised protocols or DAOs.

Feel free to reach out for further information: 

Email: aaron.payas@hassans.gi
Twitter: @aaronpayas