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Proposed regulatory framework in Malta on Blockchain, Distributed Ledger Technology and Virtual Currencies. 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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Cryptocurrencies in Malta – A Legal Perspective 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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GDPR Administrative Fines: New Guidelines Recently Adopted 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
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Blockchain Technology & the Law: Myriad Business Opportunities Telecoms, Media & Technology

Blockchain Technology & the Law: Myriad Business Opportunities

What is Blockchain? Blockchain can be described as a digital database or ledger which is shared between a network of computers. The premise of blockchain, as well as its distinctive feature, is that it works on distributed trustless consensus. Each transaction entered into the ledger (known as a block) is connected to the block before it and the block after it, creating a chain of transactions which is traceable back to the original transaction. In turn, each computer (known as a node) connected to the network has a copy of all the information stored in this database. The data is continuously…
MamoTCV
13th October 2017
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Confirmed: Employers Should Not Use Consent as a Legal Basis for Processing Employee Personal Data Employment and Industrial RelationsTelecoms, Media & Technology

Confirmed: Employers Should Not Use Consent as a Legal Basis for Processing Employee Personal Data

On 8 June 2017, the Article 29 Data Protection Working Party ("WP29") adopted Opinion 2/2017 on data processing at work ("the Opinion") ​ . This authoritative document complements previous WP29 publications on similar issues ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​. The Opinion now takes into account new technologies that affect the processing of employees' personal data at work. Moreover, the Opinion takes into account both the Data Protection Directive (Directive 95/46/EC) that is still in force at time of writing – transposed into Maltese legislation via the present Data Protection Act ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ – as well as the EU General Data Protection Regulation ("GDPR") that will enter…
Claude Micallef Grimaud
22nd August 2017
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Mamo TCV Advocates launches GDPR Microsite (www.gdprmalta.com) NewsTelecoms, Media & Technology

Mamo TCV Advocates launches GDPR Microsite (www.gdprmalta.com)

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​On ​​​​​​​​​​​​​​​​​​​25 May 2018, the EU General Data Protection Regulation (GDPR) will repeal and replace the main data protection laws of all Member States, including Malta. Maltese organisations have less than a year to prepare for the many new, and in some cases, onerous obligations introduced by the GDPR. We have recently launched our GDPR microsite (www.gdprmalta.com) that provides easy to read information and resources about the new EU Regulation. Download our free GDPR Guidelines, subscribe to our GDPR mailing list and get in touch with our data protection experts (dataprotection@mamotcv.com) to learn more!The GDPR at a glance:✓ Fines up to ​​​€20,000,000 or…
Claude Micallef Grimaud
25th May 2017