Three bills will be subjected to a public consultation
The bills are the Virtual Financial Assets Bill, which provides the regulatory framework for cryptocurrencies and initial coin offerings (ICOs); the Malta Digital Innovation Authority Bill and the Technology Arrangements and Services Bill.
Industry observers say that the ultimate approval of the bills through parliament will make Malta a pioneer in the acceptance and regulation of cryptocurrency, part of the Mediterranean island’s strategy to be among the international leaders in the online gambling and financial services industries.
A number of cryptocurrency-related companies have announced plans to either expand or move to Malta this year, including Neufund, an equity fundraising platform, OKEx, a digital asset exchange, Poseidon Foundation, a blockchain platform, and Binance, arguably the world’s biggest cryptocurrency exchange.
In related news, online poker entrepreneur Alexandre Dreyfus (Mediarex, GPI etc) has published an interesting op-ed piece in the Malta Times lauding the island’s initiatives in cryptocurrency and blockchain regulation as he prepares to launch chiliZ, a new blockchain and e-sports venture, and an associated token sale.