MDIA Launches Consultation On Technology Driven ITA Sandbox

On the 1^st of July, the Malta Digital Innovation Authority ('MDIA') issued a consultation document inviting stakeholders to give their feedback on a Technology-Driven Innovative Technology Arrangement Sandbox ('ITA Sandbox'), complementing the MDIA's innovative technology arrangement ('ITA') full certification framework.

The MDIA intends to set-up an ITA Sandbox which will complement Malta's robust certification framework, which framework aims to provide user and investor assurances that the ITA functions in a correct manner and is dependable. The MDIA recognizes that Malta operates a high-barrier entry consequent to the fact that certification is awarded by a national authority which certification aims to ensure investor protection. Through this ITA Sandbox the MDIA seeks to make authority-recognised audits accessible to small player, such as start-ups.