Hong Kong-based cryptocurrency platform Binance has now migrated to Malta due to a recent ICO ban enacted by China. This move will essentially transform Malta into a "blockchain island"; a hub destined to transform the current cryptocurrency marketplace.
Modern day entrepreneurs have creative ways of raising money like crowdfunding, which is steadily gaining dominance. ICOs operate under similar principles in that investors are offered shares in a currency that is still in development. In exchange, they contribute the more popular digital currency such as Ethereum and Bitcoin. Fiat currency like the Euro and USD can also be used.
The conference was opened by Parliamentary Secretary, Silvio Schembri who expressed the opinion that the Maltese Government was planning to launch a new Digital Innovation Authority Bill (DIA) which will operate as the only regulator for ‘Innovative Digital Technology’. The Technology Arrangements and Services Bill (referred to henceforth as TAS) was also mentioned by Dr Schembri, as was the keenly anticipated Virtual Currency Act. The triumvirate of bills will form the foundation of the Maltese Blockchain and Cryptocurrency Regulation.
Malta asset-backed tokens are among the best uses of blockchain technology to real-world assets, increasing liquidity and price consciousness for illiquid assets, with the possibility of freeing up trillions.
Until relatively recently, the tiny island nation of Malta was perhaps best known as a favourite holiday destination for many a European tourist. In fact, this Mediterranean hotspot is still said to host three times as many tourists as actual Maltese residents at any one time. However, while the hotels and beaches are still bursting at the seams with sun-seekers, Malta’s economy has been steadily diversifying and expanding in interesting new directions. One such direction has been a movement into the digital realm, with Malta becoming a pioneering player in this respect. As attention on cryptocurrencies increases so has the discussion surrounding regulation. As such, cryptocurrency regulations in Malta are a hot topic.
Malta asset-backed tokens are among the best uses of blockchain technology to real-world assets, increasing liquidity and price consciousness for illiquid assets, with the possibility of freeing up trillions.
The conference was opened by Parliamentary Secretary, Silvio Schembri who expressed the opinion that the Maltese Government was planning to launch a new Digital Innovation Authority Bill (DIA) which will operate as the only regulator for ‘Innovative Digital Technology’. The Technology Arrangements and Services Bill (referred to henceforth as TAS) was also mentioned by Dr Schembri, as was the keenly anticipated Virtual Currency Act. The triumvirate of bills will form the foundation of the Maltese Blockchain and Cryptocurrency Regulation.
Navigating the legal landscape of a new country can be daunting, especially if there's a language barrier. In Malta, a country that's become a hub for expats, the need for English-speaking lawyers has risen substantially. Whether it's for business, residency, or personal matters, finding a lawyer who can communicate effectively in English is essential. This article explores the world of legal services in Malta, tailored specifically for those who prefer to converse in English.
At the beginning of November 2018, a guideline on how to treat stamp duty, income tax and VAT on transactions that involve Digital Ledger Technology assets was issued by the Malta Commissioner for Revenue as part of the VFA tax Act. In the guidelines, the DLT assets were classified into coins and tokens, with the tokens further being classified into financial tokens and utility tokens. The guidelines came in three sets, with each set covering either the income tax, stamp duty or the VAT.
Blockchain is one of the hardest things to explain about cryptocurrency and Ethereum's smart contracts can be every bit as confusing. Part of this comes from the fact that the term confusingly describes the base interaction. They are a new interaction that comes with Etherum. A normal contract gives the terms of a relationship is backed by law. A smart contract does the same but the binding is backed by the cryptographic code. This means that a smart contract is a program which has been created to carry out exact tasks and set by the creators. They allow for goods like money or shares to be exchanged without requiring a third party.
You will need somewhere safe to store Bitcoin, before you go about buying any. This storage space is known as a ‘wallet’. It doesn’t actually hold the Bitcoins in it, but instead, it stores the private key that is required to access the bitcoin address – also known as your public key. Depending on which wallet method you decide to use, it may look like the bitcoins are actually in it which makes using them more straightforward. Wallets can hold more than one key, and usually hold many, and you are not limited to having just one wallet – indeed it is common to own several. There are a variety of wallet types that we will take a look at here.
Raise capital for your venture by registering an ICO. Let us guide you through the entire process from assessing your tokenomic model, creating smart contracts, legal document requirements, marketing and tax planning.
Let us guide you through launching your STO and help you getting started with issuing security tokens backed by a real world assets. Digitize your business by using the blockchain to raise capital for your business.
A cryptocurrency exchange has the toughest requirements from the VFA services regulated in Malta. When holding clients money, VFA’s and cryptographic keys the regulation takes great care of protecting users. Let us guide you through the complete registration of registering your cryptocurrency exchange.
The VFA agent is central in conducting crypto and blockchain related business in Malta. The agent is the bridge between your business and the authorities. Our experience as VFA agent will guide you through the fit and proper tests, financial instruments tests and ensure your business remains compliant.
Contact us via telephone or fill out the form below to discuss your blockchain and crypto needs.
