On July 4, 2018, Malta has had a regulatory framework for Blockchain technology approved.
But why is this so interesting?
Having laws and regulations in place in such a volatile concept, gives extra comfort and definitely makes Malta one of the most ‘Blockchain-friendly’ countries in the world.
The Maltese Blockchain legal framework has 3 aims: (i) to regulate the treatment of Crypto currencies; (ii) to regulate Initial Coin Offerings (ICOs); and (iii) to regulate the subsequent treatment of virtual financial assets. The beauty of this framework is that it is quite widespread as it extends to cover a number of players and instruments such as ICOs, Crypto assets, regulation of exchanges, brokers, money makers and more. Interested players are encouraged to come over to Malta and have their DLT framework licensed by the new authority: The Malta Digital Innovation Authority. Malta’s Blockchain efforts will seek to ensure the protection of traders and the general public, compliance with AML regulations and continued development in the Blockchain ecosystem.
All these selling-points have already attracted prominent industry players to Malta, amongst which Binance which is one of the largest Crypto currency exchanges in the world. So why should one consider relocating to Malta?
NCMB Consulting could help its clients develop and execute their Blockchain strategies. Together with our network of collaborators we can offer Blockchain solutions that provide trust, transparency, and security.
Besides contacting us, should you require further information we invite you to stay tuned for more detailed blogs.
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