A new regulatory framework is still being prepared for release. Three bills concerning cryptocurrency, blockchain and distributed accounting technology that were adopted by Maltese parliamentarians this summer, set out a number of ambitious changes in the legal situation in the country controlling cryptocurrency-related activities. However, the Maltese Financial Services Regulatory Authority reported that one of these laws had not yet entered into force. The government is currently developing a “virtual financial asset structure” that will complement the “Virtual Financial Assets Act”. As long as such a framework agreement is not adopted, the MFSA will not be able to “obtain a request for obtaining permits in accordance with the law”. This decision suggests that Malta, dubbed the “Blockchain Island”, has been recognized as one of the most friendly cryptocurrency jurisdictions in the world, attracting large crypto-companies such as Binance and OKEx. Yesterday it became known that the official representatives of the state exchange had concluded a deal on token exchange. |
