The Maltese government published three bills on the regulation of Distributed Ledger Technology (DLT) and Virtual Currencies (VCs) on 22 May 2018. These three bills consist of the Malta Digital Innovation Authority Bill (MDIA), the Innovative Technology Arrangements and Services Bill (TAS) and the Virtual Financial Assets Bill (VFA). Together, these three bills will form a new legislative enviroment for the regulation of DLT and VC, making Malta possibly the first jurisdiction to offer such a comprehensive legal framework for these new technologies. This legal framework offers a robust system for the safe operation of these new technologies, and it also offers protection for investors from irresponsible operators in the sector.
The Malta Digital Innovation Authority Bill creates an entity, called the Malta Digital Innovation Authority (MDIA), with regulatory powers over the sector.Its purposes are to guide and promote the sector through the development and implementation of principles, vision, skills and other related qualities. It is also intended to function as a regulatory authority
the Innovative Technology Arrangements and Services Bill sets out a system for the registration of Technology Service Providers as well as certification for individuals, and for Technology Arrangements. Through this bill, new technologies and the individuals running them will receive recognition and certification from the MDIA.
The third bill is the Virtual Financial Assets Bill (VFA). This bill regulates Virtual Financial Assets, which are what are commonly known as Initial Coin Offerings (ICOs), as well as related events and technologies It also provides for the regulation of VFA exchanges, or crypto exchanges as they are more commonly known.
Zeta is a lean, highly flexible and ambitious financial services company that has been looking into the world of VCs and DLT for a number of years. It has assembled a multi-disciplinary team focused on providing high quality services for anyone interested in these technologies and keen to take advantage of the world’s first truly regulated DLT environment. If you are keen to join this technological and financial revolution at launch, talk to Zeta to find out how we can facilitate your goals.