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Virtual Financial Asset Act and Innovative Technology Arrangements and Services Act to come into force on the 1st November 2018 Telecoms, Media & Technology

Virtual Financial Asset Act and Innovative Technology Arrangements and Services Act to come into force on the 1st November 2018

Legal Notice 307 of 2018 has been published on the 25th September, 2018 which establishes the 1st November 2018 as the date of entry into force of the Virtual Financial Asset Act, Chapter 590 of the Laws of Malta.The Virtual Financial Asset Act will regulate the issuing of ICO's in or from within Malta, the operation of exchanges and the provision of VFA services, while safeguarding market integrity, protecting consumers and ensuring a higher degree of investor protection.Legal Notice 306 of 2018 was also published on the 25th September, 2018 and this Legal Notice also establishes the 1st November 2018…
Ian Busuttil
27th September 2018
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Virtual Financial Asset Act and Innovative Technology Arrangements and Services Act to come into force on the 1st November 2018 Telecoms, Media & Technology

Virtual Financial Asset Act and Innovative Technology Arrangements and Services Act to come into force on the 1st November 2018

Legal Notice 307 of 2018 has been published on the 25th September, 2018 which establishes the 1st November 2018 as the date of entry into force of the Virtual Financial Asset Act, Chapter 590 of the Laws of Malta.The Virtual Financial Asset Act will regulate the issuing of ICO's in or from within Malta, the operation of exchanges and the provision of VFA services, while safeguarding market integrity, protecting consumers and ensuring a higher degree of investor protection.Legal Notice 306 of 2018 was also published on the 25th September, 2018 and this Legal Notice also establishes the 1st November 2018…
Ian Busuttil
27th September 2018
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MFSA Issues consultation paper on the Virtual Financial Assets Rules for Issuers of Virtual Financial Assets Telecoms, Media & Technology

MFSA Issues consultation paper on the Virtual Financial Assets Rules for Issuers of Virtual Financial Assets

​The Malta Financial Services Authority ("MFSA") has issued a consultation paper on the Virtual Financial Assets Rules which will be applicable to Issuers of Virtual Financial Assets to be issued in accordance with the Virtual Financial Asset Act. This consultation document is in line with the MFSA's proposal of issuing a rule book to be titled the "Virtual Financial Assets Rulebook" which will be subdivided into three parts:​Chapter 1: Virtual Financial Assets Rules for VFA AgentsChapter 2: Virtual Financial Assets Rules for Issuers of Virtual Financial AssetsChapter 3: Virtual Financial Assets Rules for VFA Service ProvidersThe consultation paper on Chapter…
Ian Busuttil
1st August 2018
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MFSA Issues consultation paper on the Virtual Financial Assets Rules for Issuers of Virtual Financial Assets Telecoms, Media & Technology

MFSA Issues consultation paper on the Virtual Financial Assets Rules for Issuers of Virtual Financial Assets

​The Malta Financial Services Authority ("MFSA") has issued a consultation paper on the Virtual Financial Assets Rules which will be applicable to Issuers of Virtual Financial Assets to be issued in accordance with the Virtual Financial Asset Act. This consultation document is in line with the MFSA's proposal of issuing a rule book to be titled the "Virtual Financial Assets Rulebook" which will be subdivided into three parts:​Chapter 1: Virtual Financial Assets Rules for VFA AgentsChapter 2: Virtual Financial Assets Rules for Issuers of Virtual Financial AssetsChapter 3: Virtual Financial Assets Rules for VFA Service ProvidersThe consultation paper on Chapter…
Ian Busuttil
1st August 2018
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The MFSA publishes Financial Instrument Test Telecoms, Media & Technology

The MFSA publishes Financial Instrument Test

This article was written by Dr. Christina Scicluna & Dr. Luke Mizzi. Following the Malta Financial Services Authority's (MFSA) consultation process the Authority has published a trial version of the financial instrument test which shall be carried out by issuers of Initial Coin Offerings (ICOs) prior to the offering of DLT assets to the public in or from within Malta and by persons providing any service and/or performing any activity, within the context of either the Virtual Financial Assets Act or investment services legislation. The test shall take place by means of an interactive excel sheet which transposes the various…
Luke Mizzi
27th July 2018
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The MFSA publishes Financial Instrument Test Telecoms, Media & Technology

The MFSA publishes Financial Instrument Test

This article was written by Dr. Christina Scicluna & Dr. Luke Mizzi. Following the Malta Financial Services Authority's (MFSA) consultation process the Authority has published a trial version of the financial instrument test which shall be carried out by issuers of Initial Coin Offerings (ICOs) prior to the offering of DLT assets to the public in or from within Malta and by persons providing any service and/or performing any activity, within the context of either the Virtual Financial Assets Act or investment services legislation. The test shall take place by means of an interactive excel sheet which transposes the various…
Luke Mizzi
27th July 2018