Malta’s Three New Regulation Bills
Malta Today, Malta’s government has passed four new bills. One for Malta’s infrastructure and three that will establish a regulatory framework for the blockchain-based sector.
The Parliament accepted the Malta Digital Innovation Authority Act, the Innovative Technological Arrangement and Services Act, and the Virtual Financial Asset Act.
The 3 Bills that will regulate DLT have been approved by Parliament and enacted into law. Malta , the first world jurisdiction to provide legal certainty to this space. #blockchainisland @JosephMuscat_JM
— Silvio Schembri (@SilvioSchembri) July 4, 2018
BitBay, or one with the biggest daily volume – Binance. Thanks to new regulations and crypto-based companies moving to Malta, more workplaces will be created, which will improve Malta’s overall economic status.
Currently, Malta is considered as “cryptocurrency island,” where the government tries to help cryptocurrencies and regulate them to help blockchain-based businesses.
As the Dr. Jean-Philippe Chetcuti from Cauchi Advocates said the new legislation is “a momentous milestone for Malta as a forward-looking economy, truly confirming Malta as the ‘blockchain island.’”
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