The 5th Anti-Money laundering directive has been adopted and entered into force on 9 July 2018 and should be fully implemented into national law by the various Member States into their national legislation by 10 January 2020
A cross-party amendment to the Sanctions and Anti-Money Laundering Bill in the UK’s House of Commons was accepted after rebel goverment MPs supported the proposed amendment.
Why is Malta the blockchain island? Did you know that Malta is in pole position for this title? Indeed, so confidently and determinedly is Malta adopting blockchain that is has by now won global recognition as the Blockchain Island.
On 13 April 2018, the Malta Financial Service Authority (MFSA) published a circular to the industry about a consultation paper on the Financial Instrument Test. The objective of this test is to determine whether a Distributed Ledger Technology (DLT) asset, depending on its features, falls within the sphere of either the traditional European and local financial services legislation, or within the sphere of the proposed Virtual Financial Assets Act (VFAA), or is otherwise exempt from regulation