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Maltese Parliament Approved the 1st in t...

Maltese Parliament Approved the 1st in the World Bills on DLT

Published on June 27, 2018

The Maltese Parliament unanimously approved 3 bills on DLT/blockchain, a 1st in the World as announced by the Parliamentary Secretary for Digital Innovation Silvio Schembri on Twitter.

These bills are quick making Malta into a crypto space of decision for financial specialists and proprietors who are keen on finding a great purview to set up their digital currency or blockchain business. Eminent exchanges, for example, Binance, DQR and OKEx have effectively reported their setting up in Malta.

The Three Bills Briefly Are:

– The Virtual Financial Assets Act (VFA)
This VFA deals with the regulation of initial coin offerings (ICO) and states that projects attracting funding through ICO are obliged to publish White Papers.

– The Malta Digital Innovation Authority Act (MDIA)
The MDIA infers that an industry-specific governing body will be set up.

– The Innovative Technology Arrangements and Services Act
This bill concerns the regulation of designated innovative technology arrangements.

Make sure you check our Blog frequently for more updates on this topic.