RATE Group | Maltese Cryptocurrency Law is Set to Take Effect on November 1, 2018
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Maltese Cryptocurrency Law is Set to Take Effect on November 1, 2018

26 Sep Maltese Cryptocurrency Law is Set to Take Effect on November 1, 2018

Posted at 16:17h in Cryptocurrency News by

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The Maltese government is enacting its Cryptocurrency and Blockchain regulation ahead of Malta Blockchain Summit, moving towards its goal to become the global hub for blockchain-inspired innovations.

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While other jurisdictions around the globe are either cracking down on cryptocurrencies and ICOs or adopting a hide-wait-and-see approach, the Mediterranean island country and smallest member of the European Union is creating a comfortable regulatory environment for the newly born industry that can become the next big thing after the Internet and disrupt almost every aspect of our everyday life.

In July, the Maltese government approved three bills that provided a regulatory framework for cryptocurrency and blockchain industry.

After a period of consultations with Malta Financial Services Authority (MFSA) and Malta Digital Innovation Authority (MDIA), the government has announced that the much-awaited Virtual Financial Assets Act (VFA) and the Innovative Technology Arrangement and…

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