Risk-based approach to Supervision or Monitoring of VASPs (Virtual Asset Service Provider)
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Risk-based approach to Supervision or Monitoring of VASPs (Virtual Asset Service Provider)

Risk-based approach and what it entails When tack­ling AML/CFT (Anti-Mon­ey Laundering/Countering the Financ­ing of Ter­ror­ism), the risk-based approach aims to build those mea­sures to pre­vent or mit­i­gate that are equal to the ML/TF (Mon­ey Laundering/Terrorist Financ­ing) risks iden­ti­fied by the rel­e­vant coun­tries and oblig­ed enti­ties. When it comes to super­vi­sion, this approach applies to how...

Initial Coin Offering (ICO) vs. Security Token Offering (STO) in 2019
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Initial Coin Offering (ICO) vs. Security Token Offering (STO) in 2019

The buzz­word for alter­na­tive fundrais­ing has been ICO for a “long time” —  “long” in rela­tion to the short lived tech­ni­cal world we are all work­ing in. In actu­al terms, the hype last­ed less than 2 years. There has been plen­ty of good and bad news around the ICO, very recent­ly a lot more bad...

The MFSA’s discussion paper on virtual currencies
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The MFSA’s discussion paper on virtual currencies

On the 30th of Novem­ber 2017, the Mal­ta Finan­cial Ser­vices Author­i­ty (MFSA) pub­lished a dis­cus­sion paper on Ini­tial Coin Offer­ings, Vir­tu­al Cur­ren­cies (VCs) and Relat­ed Ser­vice Providers. The Author­i­ty acknowl­edged that vir­tu­al cur­ren­cies are cer­tain­ly an impor­tant devel­op­ment in car­ry­ing out trans­ac­tions over the inter­net but also not­ed the impor­tance of dis­tin­guish­ing between vir­tu­al cur­ren­cy...

The Introduction of Virtual Currencies in Malta
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The Introduction of Virtual Currencies in Malta

Mis­sion State­ment Dr. Wern­er & Part­ner are keen­ly fol­low­ing the reg­u­la­tion and legal­i­sa­tion of vir­tu­al cur­ren­cy oper­a­tions in and through­out Mal­ta (and there­fore with­in the EU). Our own legal team is work­ing close­ly with the lob­by and reg­u­la­tive offi­cials to be able to assist clients from a very ear­ly stage of the inevitable upcom­ing reg­u­la­tion....