As expected and prior to Summer recess, Parliament has approved the much-awaited bills regulating the crypto sphere in Malta. The approval of these three Acts, namely the Malta Digital Innovation Authority Act, the Virtual Financial Assets Act and the Innovative Technology Arrangements and Services Act, paves the way for Malta to establish itself as the blockchain island and a key player in the crypto arena.

The approval of these three bills will seek to provide clarity to persons wishing to set-up a crypto business within a regulated framework and likewise investors willing to invest in these businesses.

Further guidelines issued by the respective competent authorities, being the Malta Financial Services Authority and the Malta Digital Innovation Authority are expected to supplement these approved bills providing additional and more practical guidance on the implementation of these bills.

For more information about Malta’s cryptocurrency and blockchain opportunities kindly contact Dr. Antonio Ghio, Partner at the Firm who heads the TMT Department.