Insights

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.The Malta Digital Innovation Authority ("MDIA") will be responsible for the certification of innovative technology arrangements and service providers in…

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.The Malta Digital Innovation Authority ("MDIA") will be responsible for the certification of innovative technology arrangements and service providers in…

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…

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…