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Malta Aims to Set Global Standard for Blockchain Financial Regulation

In a move set to disrupt traditional financial markets, Malta has unveiled a new strategy and regulatory framework for Distributed Ledger Technologies (DLTs) such as cryptocurrency businesses and virtual assets. The country’s parliament is enacting three new laws aimed at enabling blockchain-based businesses, which are expected to create new opportunities in the fast-evolving digital landscape.

Regulatory Framework

The Virtual Financial Assets Bill, one of the three bills, is particularly significant as it seeks to regulate Initial Coin Offerings (ICOs) and cryptocurrency exchanges operating in and from Malta. The bill’s publication provides a glimpse into what these laws will eventually regulate, offering a strong indication of Malta’s commitment to becoming a hub for blockchain innovation.

PwC Expertise

PwC, a global professional services firm, is well-positioned to help clients navigate this new landscape. With its expertise in technology, regulatory, tax and legal, assurance, and advisory services, PwC can provide trusted guidance on developing and executing blockchain strategies.

Bills Overview

The three bills - the Malta Digital Innovation Authority Bill, the Technology Arrangements and Services Bill, and the Virtual Financial Assets Bill - are subject to change but offer a glimpse into what these laws will eventually regulate. The Virtual Financial Assets Bill, in particular, is expected to have a significant impact on the cryptocurrency and ICO markets.

Contact PwC Experts

For more information on how businesses can leverage Malta’s new regulatory framework, please contact:

  • George Sammut at george.sammut@mt.pwc.com or Keith Cutajar at keith.cutajar@mt.pwc.com for technology services.
  • Fabio Axisa at fabio.axisa@mt.pwc.com and Chris Mifsud Bonnici at chris.mifsud.bonnici@mt.pwc.com for regulatory guidance.
  • Mark Lautier at mark.lautier@mt.pwc.com or Mark Abela at mark.abela@mt.pwc.com for tax and legal expertise.
  • Joseph Camilleri at joseph.camilleri@mt.pwc.com for audit services, including assurance.
  • Bonavent Gauci at bonavent.gauci@mt.pwc.com for advisory services, including transaction services and performance improvement.

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