Malta is the first country member of the European Union, and one
of the first countries at a worldwide level to issue a legal
framework fully focused on blockchain, which is a digital
system for recording the transaction of assets and their details in
multiple places at the same time, cryptocurrencies, ICO's and
related service providers. This has led Malta to be known as
"The Blockchain Island".
Past July 2018, several law drafts were approved by the
Government of Malta, being effective as of November 1st
and consisting of the "Malta Digital Innovation Act",
"Innovative Technology Arrangements and Services Act",
and the "Virtual Financial Assets Act" (VFAA).
The Malta Digital Innovation Act envisages the creation of the
Digital Innovation Authority of Malta (MDIA), which will be
responsible of everything related to technological innovation and
its use, as well as the promotion and development of
blockchain. Likewise, the Innovative Technology
Arrangements and
