Distributed Ledger Technology: Three bills published has been saved
Distributed Ledger Technology: Three bills published
Deloitte Malta Tax Alert
28 June 2018
On 26 June 2018, Maltese parliament has unanimously approved three bills which provide for the introduction of the appropriate legal and regulatory framework for the prosperity of Distributed Ledger Technologies (DLTs), more commonly known as ‘blockchain technology’.
These three bills target initial virtual financial asset offerings and virtual financial assets, designated innovative technology arrangements and the establishment of a digital innovation authority.
The Parliamentary Secretary for Financial Services, Digital Economy and Innovation within the Office of the Prime Minister has announced the unanimous approval of the said three bills by Parliament and has reiterated Government’s intention to position Malta as the natural destination for businesses that operate in this space, building further on Malta’s attractiveness as a jurisdiction for digital and iGaming business, amongst others.
The bills are expected to be adopted into Maltese law following formal assent by the President of Malta.
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