Legal Notice 307 of 2018 has been published on the 25 th September, 2018 which establishes the 1 st 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 25 th September, 2018 and this Legal N...

This article was written by Dorita Cardona and Joshua Chircop. Following the introduction of the crypto laws , namely the Virtual Financial Asset Act , the Malta Digital Innovation Authority ("MDIA") Act and the Innovative Technology Arrangements and Services Act , which laid the foundations for Malta's innovative technology sector, Maltese foundations can now be used to issue tokens and carry out trading activities resulting from such operations. [1] A foundation may, subject to such authorisations as may be necessary under applicable laws, issue tokens and carry...

​ 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 Agents Chapter 2: Virtual Financial Assets Rules for Issuers of Virtual Financial Asset...

This article was written by Dr. Christina Scicluna &  Dr. Jonathan Tonna .  A new land of opportunity for stakeholders in the cryptocurrency revolution has emerged. The Maltese Parliament has, on Friday 20 th July approved three new pieces of legislation, laying the foundations for Malta's so-called "Innovative Technology" sector, and establishing the smallest EU member state as one of only a handful of jurisdictions worldwide with a fully regulated industry for businesses operating in distributed ledger technology ("DLT") sector.  The cont...

This article was written by   Dr. Luke Mizzi & Dr. Paul Felice .  The Maltese Parliament has approved and enacted three Acts aimed at regulating Distributed Ledger Technology (hereafter referred to as "DLT") and the services ancillary thereto. One of the said Acts is the Virtual Financial Assets Act (hereafter referred to as the "VFA Act") which regulates, amongst other aspects, the issuing of ICO/Virtual Financials Assets , ( hereafter referred to as a 'VFAs') in or from within Malta. One of the central activities regulated by the VFA Act is the set...