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Telecoms, Media & Technology

MaltaToday speaks with MAMO TCV Advocates on the concerns and stability behind cryptocurrencies

MaltaToday speaks with Christina Scicluna, Senior Associate at MAMO TCV Advocates on the concerns surrounding cryptocurrencies and whether the price fluctuations of cryptocurrencies pose a threat to the stability of the market. The way investors are protected and what may be done to increase such protection is also discussed. The interview discusses certain misconceptions surrounding cryptocurrencies, with particular focus on anonymity of users and whether the use of cryptocurrencies facilitates money laundering or whether this too is a misconception. The hands-on approach and positive attitude which the Government has taken towards this new industry, as evidenced by the consultation document…
Ian Busuttil
2nd March 2018
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Telecoms, Media & Technology

MaltaToday speaks with MAMO TCV Advocates on the concerns and stability behind cryptocurrencies

MaltaToday speaks with Christina Scicluna, Senior Associate at MAMO TCV Advocates on the concerns surrounding cryptocurrencies and whether the price fluctuations of cryptocurrencies pose a threat to the stability of the market. The way investors are protected and what may be done to increase such protection is also discussed. The interview discusses certain misconceptions surrounding cryptocurrencies, with particular focus on anonymity of users and whether the use of cryptocurrencies facilitates money laundering or whether this too is a misconception. The hands-on approach and positive attitude which the Government has taken towards this new industry, as evidenced by the consultation document…
Ian Busuttil
2nd March 2018
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Telecoms, Media & Technology

SEC and CFTC hearing on Blockchain and Distributed Ledger Technology

Earlier this month the United States Committee on Banking, Housing, and Urban Affairs met in open session to conduct a hearing entitled 'Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission'. The United States Security and Exchange Commission (SEC) and The Commodities Futures Trading Commission (CFTC) were present as witnesses to discuss their relative roles with respect to Blockchain, ICOs (Initial Coin Offerings) and virtual currency regulation in general. Prior to the hearing, testimonies from each of the parties were released wherein some light was shed on the overall stance…
Paul Felice
26th February 2018
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Telecoms, Media & Technology

Proposed regulatory framework in Malta on Blockchain, Distributed Ledger Technology and Virtual Currencies.

The Parliamentary Secretary for Financial Services, Digital Economy and Innovation has issued a public consultation document on the 17th February 2018 regulating the proposed establishment of an Authority to be known as the Malta Digital Innovation Authority ('MDIA'), which will include the introduction of a regime for the registration of technology service providers and the certification of technology arrangements, with the MDIA focusing primarily on innovative technology arrangements. The consultation document also provides a framework for the certification of Distributed Ledger Technology ('DLT') platforms and related service providers, which will see the promulgation into law of three pieces of legislation, namely:the…
Ian Busuttil
21st February 2018
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Telecoms, Media & Technology

Cryptocurrencies in Malta – A Legal Perspective

Explaining CryptocurrenciesCryptocurrencies (also referred to as virtual currencies) are a form of digital currency which utilise encryption techniques for security. The same cryptography techniques are used in order to verify transactions involving virtual coins, and further coins are generated using complex mathematical algorithms in a process termed 'mining'. These digital instruments are increasingly being used to pay for goods and services, and such transactions are facilitated via the blockchain platform; peer-to-peer technology which ensures transparency and accountability. At present, the most traded cryptocurrencies are Bitcoin and Ethereum, however a host of other coins are also in circulation.Cryptocurrency vs Traditional CurrencyVirtual currencies…
MamoTCV
27th November 2017
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Telecoms, Media & Technology

GDPR Administrative Fines: New Guidelines Recently Adopted

On 25 May 2018, Regulation 2016/679, the General Data Protection Regulation (GDPR) will come into effect across the European Union (including Malta). As has been widely reported, infringement of the GDPR may lead to fines as high as €20,000,000 or 4% of an entity's total worldwide annual turnover (whichever is higher). On 3rd October 2017, the Article 29 Working Party adopted guidelines on the application and setting of the said administrative fines under the GDPR. The guidelines are intended for use by supervisory authorities to ensure improved application and enforcement of the GDPR and to encourage its consistent interpretation and…
Claude Micallef Grimaud
25th October 2017