One of the most open minded countries towards the world of blockchain, for many months has been Malta. The general attitude towards the industry is that blockchain is here to stay. Recently, the parliament approved projects on cryptocurrency and blockchain, becoming another country that has dealt with these trending technologies with legislation.
Silvio Schembri, Member of Parliament and Secretary responsible for financial services,
announced this new legislation via his Twitter account. He indicated that he was honored to have directed these bills, and announced that Stephen McCarthy will be the new director of
Malta’s Digital Innovation Authority.
The legislation, listed as 43, 44 and 45, focus on the expansion of blockchain technology on the island, through structured rules that allow the incursion of new companies in the country, as well as the proper training of its citizens in regards to this environment. With these approved projects, the Maltese Government is expected to have a more efficient process in the adoption of blockchain technology, and achieve their goal of becoming an international epicenter of digital business.
Project numbered 45, entitled the “Malta Authority for Digital Innovation Law”. establishes the creation of the Digital Innovation Authority within the country, which will have the task of promoting and developing the industries utilizing blockchain technology. The measures are expected to regulate ICOs and establish the Digital Innovation Authority as the body in charge of enforcing the law.
by Samuel Paz
