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Cryptocurrency

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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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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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Telecoms, Media & Technology

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 Service ActThe Virtual Financial Assets Act which introduces a legal framework for the regulation of ICO's and Exchanges The next…
Ian Busuttil
27th June 2018
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Telecoms, Media & Technology

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 Service ActThe Virtual Financial Assets Act which introduces a legal framework for the regulation of ICO's and Exchanges The next…
Ian Busuttil
27th June 2018
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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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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