Representatives from Dr. Werner & Partner successfully participated at the Malta Blockchain Summit which was held on the 1st and 2nd of November 2018 at the Intercontinental Hotel in St. Julian’s. The company stand proved to be an immediate success with a record number of delegates and people visiting and queues forming to sample the...
Introduction. The current ‘talk of the town’ for all Blockchain & Crypto-enthusiasts is an innovative test formulated by the Malta Financial Services Authority (MFSA) entitled: the Financial Instrument Test. This analysis and ‘determination’ will be the mandatory barometer for all forms of enterprises proposing to introduce DLT [Distributed Ledger Technology] Assets into ‘Blockchain island’. Moreover,...
Introduction ‘Viva La Revolucion!’ shouted the throngs of crowds in the streets of Havana. With a new regime in place, the balance of power had shifted, and the paradigm of society had changed forever. A phrase which has been immortalised and enshrined in history is reinventing itself in this new and glorious era where Fintech...
Introduction A thorough reading of the proposed Virtual Financial Assets Act, 2018 highlights the necessity to have a system of checks and balances ensuring that whoever is advising clients in the realm of tokens and cryptocurrencies is essentially competent, qualified and diligent. This is certainly one of the main reasons why the legislator felt the...
Introduction After a much-anticipated wait, the Maltese Government has published three Bills aimed primarily at: 1) Regulating Virtual Financial Assets, 2) Establishing a Malta Digital Innovation Authority and 3) Regulating designated innovative technology arrangements/services. Whilst Dr. Werner & Partner will be analysing in detail the contents of each Bill [in future articles], it is imperative...
Introduction Tony Stark [an entirely fictitious character] once remarked: ‘Is it better to be feared or respected? And I say: ‘Is it too much to ask for both?’ One can certainly surmise that Virtual Currencies are finally given the necessary ‘respect’ through their insertion in the ‘Amendment to the Fourth Money Laundering Directive’ [colloquially known...
A ‘Smart’ Introduction. You may all be familiar with ‘Skynet’ — the fictional neural-based conscious group and artificial intelligence system that serves as ‘the Terminator’ film series’ main antagonist. In the movie series, Artificial Intelligence (AI) had reached a stage where it was finally able to consciously decide and execute its plan [albeit rather unilaterally/independently]...
Binance comes to Malta! Recently, Malta was once again in the news as Binance, the largest cryptocurrency trading platform in the world announced that it was relocating to sunny ‘Blockchain Island’. Following a Chinese ICO ban, the Hong Kong-based exchange platform, was compelled to look elsewhere in Asia for a hub and sought the Japanese...
Representatives from Dr. Werner & Partner attended a Seminar [organised by the Malta Institute of Accountants] dealing with the ubiquitous word we have now all grown accustomed to: Blockchain. Establishing trust in Blockchain. Preliminary discussions focused on establishing ‘trust’ in the Blockchain technology. Keynote speakers noted that whereas before, trust was placed solely in the...
Introduction: The ICO World. ICOs [Initial Coin Offerings] or TGE [Token Generation Events] have attained a ubiquitous status within the world of Cryptocurrencies – as their introduction in the financial services sector has sparked a number of different views on how to tackle and eventually regulate these inevitable novel coin offerings. Crowdfunding initiatives are innovative...
