Malta Regulator Opens Consultation after Publishing Cryptocurrency, Blockchain Bills

The Malta Financial Services Authority is currently involved in a consultation exercise to ensure that all stakeholders are well informed on what the three blockchain and crypto laws that were passed recently, entail.

Reports in the local media have interpreted this situation as a stalling on the MFSA’s part but this is quite a normal procedure according to sources in the industry who spoke to CCN.

Speaking to CCN, Joseph F Borg, a senior partner at WF Partners explained that this was the usual manner in which laws in the financial services sector were enacted.

He stated:

“Although the laws where published last week, they are expected to come into force in October of this year. This will give time for industry players to adjust accordingly to benefit from the transitory provisions as well as well as the authorities to cater the large amount of applications that will be submitted in the first few months”.

The MFSA has told the blockchain sector to wait because although…