Proposed Regulatory Framework In Malta On Blockchain, Distributed Ledger Technology And Virtual Currencies

The Parliamentary Secretary for Financial Services, Digital Economy and Innovation has issued a public consultation document on the establishment of an Authority to be known as the Malta Digital Innovation Authority ('MDIA') and the framework for the certification of Distributed Ledger Technology ('DLT') platforms and related service providers, which will see the promulgation into law of three pieces of legislation, namely:

• the MDIA Bill which will set out the powers granted to the MDIA and will also cater for co-operation between the MDIA and other national competence authorities;
• the TAS Bill will provide a framework for the registration of auditors and administrators of DLT platforms and the certification of such platforms; and