Approval Of Crypto Regulation In Malta.

Further to its efforts to place Malta as a hub for digital innovation, the Maltese Parliament has, on the 26^th of June, approved forthcoming laws concerning Distributed Ledger Technology ('DLT'). These come in the form of three pieces of legislation, namely Malta Digital Innovation Authority ('MDIA') Act, the Innovative Technology Arrangements and Services ('ITAS') Act, and the Virtual Financial Assets ('VFA') Act. The Approved Bills will now pass on for Presidential assent and promulgation of the final Acts in the official Government Gazette.

The legislative proposals provide the general framework for crypto regulation in Malta and as such will be supplemented by the Rules and Regulations from the Malta Financial Services Authority – the single regulator for financial services in Malta and the Competent Authority in terms of the VFA Act – as well as in terms of the newly established MDIA. It expected that the said Rules and Regulations will be published for