The Chairman of the Malta Financial Services Authority (MFSA) announced that the country’s three Acts regulating Distributed Ledger Technology (DLT), such as blockchain and cryptocurrency, will come into effect on November 1, 2018.
Malta has set its sights on becoming the blockchain hub of the world, and was the first country to establish a regulatory framework for the booming industry. The Maltese Parliament had already unanimously approved the three Acts earlier this year: The Malta Digital Innovation Authority Act, the Innovative Technology Arrangements and Services Act, and the Virtual Financial Assets Act. The Acts will now come into effect on November 1, 2018, following a period of consultation.
The date that the Acts will come into force coincides with the Malta Blockchain Summit, one of the most highly anticipated industry events of the year that will further showcase Malta as a leader in the industry, being held on the island between November 1-2, 2018.
Corrieri Cilia will be exhibiting at the Malta Blockchain Summit this November. Come visit us at booth 36!
Corrieri Cilia provides assistance in the fields of ICOs, ITOs, and blockchain businesses, offering advice on structuring, mandatory regulation, and related tax, legal & business advisory services. If you need advice in any of these areas, please contact us on [email protected] to find out how we can help you.