May
22

Second Reading in Parliament for Blockchain Bills: The Virtual Financial Assets Act and the legal framework for Virtual Financial Asset Exchanges

Second Reading in Parliament for Blockchain Bills: The Virtual Financial Assets Act and the legal framework for Virtual Financial Asset Exchanges
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 regulat...
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Nov
27

Cryptocurrencies in Malta – A Legal Perspective

Cryptocurrencies in Malta – A Legal Perspective
Explaining Cryptocurrencies Cryptocurrencies (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 transpar...
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Oct
13

Blockchain Technology & the Law: Myriad Business Opportunities

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 thi...
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