Dr Denia Ellul, Senior Associate of the law firm attended the launch of a policy document which seeks to position Malta at the forefront of digital technology innovation. Parliamentary Secretary for Financial Services, Digital Economy and Innovation Hon. Silvio Schembri explained that the creation of an all-encompassing framework for the sector of digital technologies and Distributed Ledger Technologies shall be attained through the promulgation into law of three proposed pieces of legislation, namely:
- a Bill establishing a new competent authority to be known as the Malta Digital Innovation Authority (the “MDIA Bill”);
- a Bill providing for the structure for the registration of Auditors and Administrators of distributed Ledger Technology Platforms (the “TAS Bill”); and
- a Bill providing for the framework for the regulation of Initial Coin Offering and intermediation of virtual currencies (the “VC Bill”).
Fenech Farrugia Fiott Legal shall be participating actively in the consultation process leading to the establishment of an Authority to be known as the Malta Digital Innovation Authority and the framework for the certification of Distributed Ledger Technology (DLT) Platforms, in order to position itself accordingly in light of this new regime.
Click here to access the DLT Regulation Document issued by the Parliamentary Secretariat for Financial Services, Digital Economy and Innovation.