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Malta Takes Lead in Blockchain Financial Regulation

Malta has been making waves as one of the few countries actively supporting the regulation of cryptocurrencies and development of Distributed Ledger Technologies (DLTs). The vision is to create a digital economy, and Malta is swiftly moving towards becoming the Blockchain Island. This is thanks to the recently set up Malta Digital Innovation Authority.

A Leader in DLT Regulation

With legislation and regulation formally coming into force on November 1, 2018, Malta now sits atop the DLT ladder as the first jurisdiction to design an entire ecosystem for DLTs. KPMG Malta has hopped onto the front seat to assist businesses and related entities set up in Malta.

VFA Team

The firm’s VFA (Virtual Financial Assets) Team is poised to walk through Malta’s DLT terrain, seizing opportunities and bringing blockchain innovations to life while providing ongoing advice and assistance on new regulations coming into force within the Virtual Financial Assets sector. The team offers:

  • Regulatory advisory services, including reviews of licensing application documentation required for submission to the Regulator under the scope of the Virtual Financial Assets Act
  • Assistance in navigating the new regulations and seizing opportunities in the VFA sector

Global Cryptocurrency Framework

KPMG’s Global Cryptocurrency Framework is also available, working with VFA entities, large financial services organizations, and exchanges to help integrate crypto into their businesses. The firm’s cross-functional teams include:

  • Cyber security professionals
  • Technology and operations professionals
  • Smart contract developers
  • Regulatory compliance professionals
  • Tax professionals
  • Accounting advisors
  • Auditors

Quote from KPMG Malta Director

“We are excited to be part of Malta’s vision to create a digital economy,” said Alex Azzopardi, Director of Risk Consulting Advisory at KPMG Malta. “Our team is well-equipped to assist businesses in navigating the new regulations and seizing opportunities in the VFA sector.”

Important Note

The information contained in this article is general in nature and should not be acted upon without appropriate professional advice after a thorough examination of the particular situation.