As you may now, Brexit is no longer a speculation. However, there were no immediate changes, or at least not yet. The transition is still in process; however, many European Countries are showing that the preservation of status quo is of their utmost importance, including Malta.
Personal Data is not just a Name and a Surname. The GDPR’s definition of personal data is very broad and includes any information which directly or indirectly identifies a living individual. Your name and surname would identify you as a person, BUT what if you have a common name?
The use of blockchain technology is still new to our digital age, however it is important to view such usage from a GDPR Perspective. The GDPR mainly focuses on the Protection Data and highlights the importance of compliance with the requirements set out in the Regulation. Despite the incompatibilities, the GDPR and Blockchain Technology can co-exist.
Chapter 3 of the VFA Rulebook applies to VFA Service Providers who are seeking to obtain their license within the VFA sphere as per the laws and regulations of Malta. The MFSA issued a circular addressed to VFA Service Providers in support of innovation of the sector adapting a more principles-based approach. The new amendments shall be...
Introduction Let’s start off by pointing out that the term Security Token Offering — STO is an umbrella term and attempting to decipher this term can at times be all-but impossible. STOs give you ownership or part thereof of an asset or of a company. So, what is inherently different when it comes to STOs?...
Introduction As many of you may know, a “Classic” bank is the usual financial services provider which offers a whole spectrum of financial services, including but not limited to Branch Services, ATMs, Internet Banking, the Issuing of VISAs and Cheque Books, amongst others. The current situation with such banks is that they seem like they...
The MFSA issued a Circular on 6th September 2019 to the VFA Service Providers. The Circular is regarding the licensing requirements. VFA Service Providers who are operating in transitory would need to commence the license application by not later than the already stipulated deadline, that being on the 31st of October 2019. The Circular applies...
Introduction Malta Digital Innovation Authority (MDIA)? Yes, it’s the go-to authority to an Innovative Technology Arrangement certification. MDIA is the main authority that is responsible for the promotion of Malta as the hub of technological innovation. It ensures that Malta is compliant with international obligations whilst seeking to protect users during the certification of Innovative...
Introduction Many of you might have heard about the current struggle that companies dealing with blockchain and cryptocurrencies are faced with when trying to open a Bank account. Most of our clients ask whether the process is still the same and what are the main requirements to ultimately have an operative Bank account. If you...
Malta has developed a progressive approach towards distributed ledger technologies and cryptocurrencies, to the extent that we have now have a regulated framework. The VFA Act is an innovative legislation which regulates Initial Virtual Financial Assets Offerings and outlines their licensing requirements, entitled The Virtual Financial Assets Act, 2018. Now, if you are a Service...
