Malta's Financial Services Authority has announced the date in which the three Blockchain acts approved at the beginning of summer will become enforceable. By doing so, operators working within the Blockchain industry will be able to put their mind to rest that their business is operating under a secure regulatory framework. This will further establish Malta as the Blockchain Island.
The Malta Financial Services Authority (MFSA) has recently updated its Conduct of Business Rulebook, originally issued on the 20th December 2017. Further to the implementation of the EU Directive 2016/97, also referred to as the Insurance Distribution Directive, the Rulebook will now apply to insurance undertakings and insurance intermediaries as from the 1st October 2018. Moreover, industry participants are encouraged to contact the Conduct Supervisory Unit,
With the enactment of three comprehensive legislative frameworks regulating Distributed Ledger Technologies, Malta has already begun to establish itself as a Blockchain hub and has even been dubbed: The Blockchain Island. today, a €300,000 scholarship fund has been launched by the University of Malta for students to be able to obtain a Masters’ and Doctorate degree in Distributed Ledger Technology (DLT) and Blockchain.
14 Aug 2018 Chetcuti Cauchi
Recently, guidelines have been issued for the application of the Notional Interest Deduction for Maltese Companies and partnerships. This will clarify how the risk-free rate is to be calculated, and the processes which must be duly followed.
01 Aug 2018 Thea Leigh Massa
The overhaul to the Maltese gaming regime has officially been implemented as of today.
MFSA launches guidelines to facilitate classification of DLT assets via the Financial Instruments Test. The Malta Financial Instruments Test must be carried out by the Issuer of the ICO as well as the VFA Agent in order to determine whether the DLT asset qualifies as a virtual token, a financial instrument under MiFID or a Virtual Financial Asset under the new Virtual Financial Assets Act.
25 Jul 2018
AML Implementing procedures for gaming sector have been published following the enforcement of the 4th AML Directive.
The amount invested in Government stocks totalled €58,371,279. The financial contributions to the National Development and Social Fund amounted to €194 million, whilst €83 million where transferred to the Consolidated Fund. According to the forecasts published by the European Commission the Malta individual Investor Programme contributed 2.6% of the country’s GDP in 2017.
20 Jul 2018
The Fintech sector continues to flourish and root itself on various in-depth legislation available. The Malta Stock Exchange has set up a stable foundation for digital asset trading. Malta continues to establish itself as a hub for investment as well as an incubator for further developments in this sector.
19 Jul 2018 Thea Leigh Massa
The implementation of the new Gaming Act has been pushed back to the 1st of August 2018, postponing the implementation by one month following the submission of a detailed opinion to the European Commission by Poland.