ICO IMPOSES EUR224,000 FINE FOR ‘BCC’/’CC’/’TO’ BLUNDER

ICO IMPOSES EUR224,000 FINE FOR ‘BCC’/’CC’/’TO’ BLUNDER
Before clicking 'Send', check and check again!Sending an email to the wrong recipient is perhaps one of the most common types of data breach that can occur. One example is erroneously sending a Carbon Copy ('CC') email or an email with recipients in the 'TO' field instead of a Blind Carbon Copy ('BCC') email. This can have serious implications in terms of general confidentiality obligations as well as significant implications in terms of the EU General Data Protection Regulation ('GDPR') which came into effect across the EU, including Malta, on 25th May 2018.This ...
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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

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, som...
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Maltese Parliament has unanimously approved second reading of all three Cryptocurrency/Blockchain/DLT Bills

Maltese Parliament has unanimously approved second reading of all three Cryptocurrency/Blockchain/DLT Bills
The Maltese Parliament has yesterday, Tuesday 26th June unanimously approved three Bills during a second reading in Parliament as announced by Parliamentary Secretary for Digital Innovation Hon. Silvio Schembri. This milestone development will make Malta one of the first countries to soon adopt a legal framework for ICO's, Exchanges and Innovative Technologies and position Malta as an attractive jurisdiction for investors and operators in the industry. The Bills are the following:The Malta Digital Innovation Authority ActThe Innovative Technology Arrangements and ...
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Second Reading in Parliament for Blockchain Bills: The Malta Digital Innovation Authority Act

Second Reading in Parliament for Blockchain Bills:  The Malta Digital Innovation Authority Act
The spearhead of Malta's new three-pronged legal regime on innovative technology arrangements and cryptocurrencies, the Malta Digital Innovation Authority Bill (the "Bill"), was presented to Parliament for its second reading, marking a fundamental step towards a new legislative milestone in Malta's efforts to become a trailblazer in the global blockchain revolution. Once promulgated, the new Act will lay down the guiding principles of the soon-to-be-formed public body charged with the duty of promoting and developing Malta's new born innovative technology sector.T...
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Second Reading in Parliament for Blockchain Bills: The Innovative Technology Arrangements and Services Act

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 whi...
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