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ARTICLE · 31 JANUARY 2018

Cryptocurrencies In Malta – A Legal Perspective

Mamo TCV Advocates
Mamo TCV Advocates
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Cryptocurrencies (also referred to as virtual currencies) are a form of digital currency which utilise encryption techniques for security.

MaltaTechnology

Originally published 27th November 2017

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 transparency and accountability. At present, the most traded cryptocurrencies are Bitcoin and Ethereum, however a host of other coins are also in circulation.

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