Insights

One of three recent and significant legislative developments in the field of blockchain and Distributed Ledger Technology ('DLT') was presented by the Maltese Government for its second reading in Parliament . The Bill is aimed at promulgating a framework for "Innovative Technology Arrangements and Services" ('ITAS'). The ITAS Bill is intended to go hand in hand with the also newly publicised Malta Digital Innovation Authority Act (the 'MDIA Act', an overview of which may be accessed here ) and the Virtual Financial Assets Act (the 'VFAA', an overview of which may be accessed here and here ). The first and second schedules…

The Maltese Government has presented the much-anticipated Virtual Financial Assets Bill for its second reading in Parliament. The Bill introduces a regulatory framework in relation to the issuing of Initial Virtual Financial Assets (more commonly known as International Coin Offerings or "ICOs"). The publication of the Bill comes at a critical time, given the rapid surge in interest in Malta from several cryptocurrency exchanges since the Government first announced its intention for Malta to become the "Blockchain Island".In a world where rigorously regulated jurisdictions are in short supply, the demand is considerable, leading several exchanges to relocate to Malta before the…

The Maltese Government has presented the much-anticipated Virtual Financial Assets Bill for its second reading in Parliament. The Bill introduces a regulatory framework in relation to the issuing of Initial Virtual Financial Assets (more commonly known as International Coin Offerings or "ICOs"). The publication of the Bill comes at a critical time, given the rapid surge in interest in Malta from several cryptocurrency exchanges since the Government first announced its intention for Malta to become the "Blockchain Island".In a world where rigorously regulated jurisdictions are in short supply, the demand is considerable, leading several exchanges to relocate to Malta before the…

The Maltese Government has presented the much anticipated Virtual Financial Assets Bill (the "Bill") for its second reading in Parliament. The Bill provides further clarity as to the manner in which virtual assets (termed "Virtual Financial Assets" ("VFA") will be regulated in Malta, specifically in relation to the issuing of ICOs in or from or within Malta.This includes the necessary license requirements and conditions which must be adhered to by individuals or entities who issue VFAs or who provide certain specified activities in relation to VFAs. The Bill, which aims to enhance investor protection and market stability, is in line…

The Maltese Government has presented the much anticipated Virtual Financial Assets Bill (the "Bill") for its second reading in Parliament. The Bill provides further clarity as to the manner in which virtual assets (termed "Virtual Financial Assets" ("VFA") will be regulated in Malta, specifically in relation to the issuing of ICOs in or from or within Malta.This includes the necessary license requirements and conditions which must be adhered to by individuals or entities who issue VFAs or who provide certain specified activities in relation to VFAs. The Bill, which aims to enhance investor protection and market stability, is in line…