Maltese Government Presents DLT And Cryptocurrency Bills To Parliament For Approval

The much awaited Bills which will implement a legal framework for Distributed Ledger Technology ("DLT") and cryptocurrencies, as anticipated by the Consultation Document on Blockchain, Distributed Ledger Technology and Virtual Currencies have been approved by Cabinet and have been presented to Parliament for their first reading.

The three Bills which have been presented to Parliament on Tuesday 24^th March are the following:

1. Malta Digital Innovation Authority Bill: The Bill establishes the Malta Digital Innovation Authority ("the Authority") and will focus on internal governance arrangements. The affairs and business of the Authority will be carried out by a Board of Governors. This Bill will also outline the duties and responsibilities of the Authority, one of the key roles being the certification of DLT platforms to ensure credibility and provide legal certainty to users wishing to make use of a DLT platform. The purpose of the surveyors and the certification