Malta has passed three bills establishing national regulations for the blockchain, cryptocurrency and Digital Ledger Technology (DLT) industries.
The Digital Innovation Act establishes the Malta Digital Innovation Authority and certifies DLT platforms. The Innovative Technology Arrangement and Services Act is primarily concerned with the setting up of exchanges and other companies operating in the cryptocurrency market. The Virtual Financial Assets Act establishes a regulatory regime governing Independent Coin Offerings ("ICOs"), cryptocurrency exchanges, wallet providers and such other operations. These laws are based on European Union principles of market integrity, consumer and industry protection as well as a "technology first" approach espoused in white papers.
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This article was written with contributions from Nabeela Latif.