On 4. July, Malta had adopted a three-Blockchain-laws. Four months later, two of the new block chain – based laws are due to come into force in time for the Start of the Malta Blockchain Summit. It includes the regulation of ICOs and the creation of crypto exchanges.
Malta continues to work on the title “Blockchain-island” and is taking everything to the technology. Accordingly, the government had adopted at the beginning of July of this year, three of the Blockchain-laws. The Live Bitcoin News on July 28. September reported, Malta will on 1. November two of the new block chain-based laws. This is, to the regulation of the acquisition of virtual assets (Virtual Financial Assets Act, VFA) and the regulation of innovative technology agreements and services (Innovative Technology Arrangement and Services Act, ITAS).
Regulations for ICOs and foundations of crypto-exchanges
Both the procedure and the requirements which It must follow, are described in the law on the acquisition of virtual assets (VFA). This also means that companies that want to start a ICO, you need to disclose your financial history. So fraudulent ICOs should be prevented.
Meanwhile, the law for the acquisition of virtual assets (ITAS) provides the legal basis for the regulation of crypto – currency and Blockchain industry. It regulates agreements for Distributed Ledger technologies, and certifications of crypto-exchanges. In the foreground is the establishment of stock exchanges and other crypto-companies.
The laws in the middle of the Malta Blockchain Summit in force. This is from the 31. October to 3. November planned. According to the Live Bitcoin News Eman Pulis, the CEO of the Malta Blockchain Summit declared:
“We have always said that we are here to support the conscious efforts on the national level, in order to make Malta the primary responsibility for the Blockchain, and DLT.”
In addition, the conference will provide you with the expected number of participants from 5,000 the opportunity to present Malta’s efforts to make it to the”legislative Front” is attractive.