Bitcoin, Crypto currency, Blockchain

Financial Instrument Test: Malta is a Block-island

The financial Supervisory authority in Malta has published a document that deals with the regulation of crypto-currencies. The Maltese government provides a “Financial Instrument, Test”, to help you decide how to classify any Token or crypto-currencies.

Malta has made in the last few months on the way to the Blockchain site in Europe. After you received the crypto exchange Binance with open arms, considered also OKEx to move into the crypto-friendly Malta. A tax-friendly and transparent regulations, to make the island interesting for both sides. The exchanges will in future have to fear no further removals, bans, or warnings, while the government can stimulate the economy. However, for this to work, you need to create some rules and reasonable. In this respect, the financial supervision authority developed in Malta, is now a Test for crypto-currencies and Token of ICOs.

The so-called Financial Instrument of the Test is thus designed to be able to the respective Token in perspective. After completing the Test, you know, in the future, whether on a Distributed Ledger technology-based Asset, under the EU regulations, and therefore traditional financial guidelines, or under the Maltese “Virtual Financial Assets Act”. According to a Statement from the 13. April thinks in Malta, now about the Test as a basic requirement for ICOs.

Malta wants Feedback on the Financial Instrument Test

From a published document, it is also clear that the Supervisory authority of Malta, Feedback from the industry wants. Before planning how to proceed, she wants to involve both the companies and the users in the process. To 4. May 2018 can give the Tester in a public survey Feedback on the Test.

The “Blockchain-island” consolidates currencies, with this step, your Position in the Ecosystem of the Blockchain and the Crypto. By introducing mandatory Tests and Standards, it allows for a safe and secure environment for ICOs and Blockchain-companies can then focus, ultimately, on the development of the technology.

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