News

The Commissioner for Revenue today issued guidelines in relation to the taxation of Distributed Ledger Technology (DLT) assets from an income tax and stamp duty.

As part of its efforts to ensure the proper development of the Blockchain industry in Malta, a consultation paper on AML requirements for VFA Activities has been issued. This will allow interested parties to offer suggestions and feedback on any possible changes which can be made to further improve the sector-specific procedures.

With all three Distributed Ledger Technology (DLT) Acts officially enforced, Malta provides a regulatory environment for the Blockchain industry. Industry insiders have closely followed developments and applaud these laws that aim to regulate DLTs whilst ensuring that their development is not hindered. Malta is embracing the Blockchain Revolution and setting itself out to be a pioneer.

Chetcuti Cauchi Advocates has been awarded law firm of the year at the Malta Blockchain Summit. After years of hard work and dedication, the firm is finally able to enjoy such success, whilst nonetheless still striving for further success in the future.

Several incentives aimed at enhancing investment, promoting new economic sectors and redistributing wealth were highlighted in the Malta Budget 2019, presented by the Finance Minister Hon Edward Scicluna, aimed at strengthening Malta's economic growth.

According to the latest Global Competitiveness Ranking report, Malta places 36th out of 140 countries. Amidst the others, Malta recorded positive performances in Macroeconomic stability, Health, Labour Market and ICT Adoption. The successful performance is the result of the efficacious policies and sound legislations implemented by the Government over the past years, which have contributed to the country’s economic growth and increase in FDI.

The MFSA has recently further enhanced the procedures in place when dealing with PEPs in relation to money laundering practices and the financing of terrorism. Through the application of such guidelines, one will be able to identify the level of risk posed by PEPs and the due diligence procedures which will apply.

The Malta Gaming Authority has recently announced an initiative which will allow individuals to forge a relationship between iGaming and Blockchain. By taking such an avant-garde approach, Malta is fostering further innovation within the industries. It is, therefore, truly establishing itself as a leader within both rapidly evolving industries.

New Emerging Technologies Lab Officially Inaugurated

Chetcuti Cauchi Advocates has produced a report analysing the approach various governments around the world have taken towards Blockchain. By understanding the manner in which such regulations will impact operators involved in the industry, DLT- based ventures will be able to properly develop within the global economy.