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Malta Approves Crypto Acts and Creates A Regulated Framework for ICOs and Exchanges Telecoms, Media & Technology

Malta Approves Crypto Acts and Creates A Regulated Framework for ICOs and Exchanges

This article was written by Dr. Christina Scicluna & Dr. Jonathan Tonna. A new land of opportunity for stakeholders in the cryptocurrency revolution has emerged. The Maltese Parliament has, on Friday 20th July approved three new pieces of legislation, laying the foundations for Malta's so-called "Innovative Technology" sector, and establishing the smallest EU member state as one of only a handful of jurisdictions worldwide with a fully regulated industry for businesses operating in distributed ledger technology ("DLT") sector.  The content of the three laws have been discussed in previous Mamo TCV publications, particularly as they pertain to the regulation of ICO and cryptocurrency exchanges. What…
Ian Busuttil
23rd July 2018
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Malta Approves Crypto Acts and Creates A Regulated Framework for ICOs and Exchanges Telecoms, Media & Technology

Malta Approves Crypto Acts and Creates A Regulated Framework for ICOs and Exchanges

This article was written by Dr. Christina Scicluna & Dr. Jonathan Tonna. A new land of opportunity for stakeholders in the cryptocurrency revolution has emerged. The Maltese Parliament has, on Friday 20th July approved three new pieces of legislation, laying the foundations for Malta's so-called "Innovative Technology" sector, and establishing the smallest EU member state as one of only a handful of jurisdictions worldwide with a fully regulated industry for businesses operating in distributed ledger technology ("DLT") sector.  The content of the three laws have been discussed in previous Mamo TCV publications, particularly as they pertain to the regulation of ICO and cryptocurrency exchanges. What…
Ian Busuttil
23rd July 2018
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MFSA issues consultation paper with the Financial Services Industry with Regards to the Virtual Financial Assets Regulations to be Issued under the Virtual Financial Assets Act NewsTelecoms, Media & Technology

MFSA issues consultation paper with the Financial Services Industry with Regards to the Virtual Financial Assets Regulations to be Issued under the Virtual Financial Assets Act

The Malta Financial Services Authority ("MFSA") issued a consultation paper addressed to the financial services industry with regards to the Virtual Financial Assets Regulations to be issued under the Virtual Financial Assets Act ("VFA Act")  The aim of the proposed Regulations is to safeguard financial stability, promote market integrity and ensure investor protection by introducing the following: ​Exemptions:The proposed Regulations will set out a list of persons who shall be exempt from the requirement of a VFA services licence in terms of the VFA Act, some exemptions may be automatically applicable, others will need to be notified to the MFSA…
Ian Busuttil
9th July 2018
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MFSA issues consultation paper with the Financial Services Industry with Regards to the Virtual Financial Assets Regulations to be Issued under the Virtual Financial Assets Act NewsTelecoms, Media & Technology

MFSA issues consultation paper with the Financial Services Industry with Regards to the Virtual Financial Assets Regulations to be Issued under the Virtual Financial Assets Act

The Malta Financial Services Authority ("MFSA") issued a consultation paper addressed to the financial services industry with regards to the Virtual Financial Assets Regulations to be issued under the Virtual Financial Assets Act ("VFA Act")  The aim of the proposed Regulations is to safeguard financial stability, promote market integrity and ensure investor protection by introducing the following: ​Exemptions:The proposed Regulations will set out a list of persons who shall be exempt from the requirement of a VFA services licence in terms of the VFA Act, some exemptions may be automatically applicable, others will need to be notified to the MFSA…
Ian Busuttil
9th July 2018
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Second Reading in Parliament for Blockchain Bills: The Innovative Technology Arrangements and Services Act Telecoms, Media & Technology

Second Reading in Parliament for Blockchain Bills: The Innovative Technology Arrangements and Services Act

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…
Paul Felice
22nd May 2018
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Second Reading in Parliament for Blockchain Bills: The Virtual Financial Assets Act and the legal framework for ICO’s Telecoms, Media & Technology

Second Reading in Parliament for Blockchain Bills: The Virtual Financial Assets Act and the legal framework for ICO’s

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…
Ian Busuttil
22nd May 2018