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...
Let’s start off by comparing the evolution of the internet with the evolution of blockchain to understand the whole concept of Blockchain and how the world could shift towards digitisation, and potentially change; here is all you need to know. The internet as we know it was first launched in 1994 and people were sceptic...
