Blockchain advisory malta

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Virtual Financial Assets (Crypto) License Malta

Modern urban planning faces problems that are also opportunities for development: traffic congestion that triggers new mobility, sensors that make the detail of urban activities visible, intelligible and usable, or the development of e-administrations.

In this future, the Digital Metropolis will produce a continuous flow of data through the interactions of its users, captured by urban installations and fed by IoT [ 1 ]. Read the full article here.

On the 22 May , the Government of Malta published the three anticipated bills which will give the various stakeholders a clear picture of the legal framework which will regulate distributed ledger technology platforms DLT and their underlying assets.

And often, beyond speeches and "magic thinking", the actions of States are often limited to the digitisation of existing services; the creation of applications facilitating the access and the use of traditional services; the interconnection of public networks and the centralisation of "Data". It is more a question of "scanning" the old world than adopting the revolution under way and enabling the creation of new wealth. Likewise, few people are aware of the shock wave created by distributed register technology DLT and how it is already changing the world around us.

Its report on virtual currencies distinguished between "Virtual Currency" and "Digital Currency". The latter being the numerical representation of the former. Yet, blockchain technologies and artificial intelligence embody promises of new products, services and financing. These are now seen as the pillars of a disruptive economy producing leverage effects that could upset the current economic order.

Nations are therefore embarking on a competition to attract the best projects to their own territory. This article will examine general trends of the tax treatment of bitcoins and will describe some recent developments in this area in EU I and at the national level of some non-European countries II.

Traditionally it is based on centralised and established components such as companies, institutions, states, and currencies. However recent crises subprime, Greek public debt, etc.

At the same time, distributed ledger technology DLT, or blockchain began to develop and "dispenses with the need for trust in other parties, which is based instead on a network of nodes servers that validate all sorts of transactions and information, with or without legal value, in a secure manner and in real time or almost ". Rather than placing trust in a single, fallible entity, it spreads the trust among independent players that control one another.

This new version of trust that many would describe as disruptive has uberised fundraising and financing of all types of activities via initial coin offerings ICOs. ICOs are inherently compliant with DLT and finance the development of activity not by increasing capital, but by the presale of goods, rights or services.

Seven Trends at the Frontier of Blockchain Banking

In short, the vision is to create a digital economy. Malta is today moving swiftly towards becoming the Blockchain Island, supported by the recently set up Malta Digital Innovation Authority. With legislation and regulation formally coming in to force on 1 st November , Malta now sits atop the DLT ladder as the first jurisdiction to have actually designed an entire ecosystem for DLT. We work with VFA entities, large financial services organizations and exchanges to help integrate crypto into their businesses.

Healy Consultants successfully assists our Clients structure their global cryptocurrency corporate structures in many crypto-friendly countries, including Malta.

Ones to Watch: Blockchain Advisory

Media News. The collaboration will focus on the creation of a reg-tech focussed compliant ecosystem within blockchain, and bring together two established businesses already at the forefront of legal compliance. BCA is a fast growing team of regulatory and technology specialists that introduced blockchain technology and cryptocurrencies to Malta back in , and are assisting numerous blockchain-based and cryptocurrency-related projects such as token generation events, crypto funds, and cryptocurrency exchanges in becoming leaders of the upcoming shift in global technology, as well as providing advice and feedback to the regulatory authorities regarding the implementation and execution of the DLT Regulatory Framework. Blockpass is digital identity application and service that brings control back to the user. Blockpass provides a streamlined and cost-effective user onboarding process for regulated industries and any kind of online service. From the Blockpass application, users can create, store, and manage, data-secure digital identity that can be used for an entire ecosystem of services or token purchases. The strategic partnership with Blockpass gives our clients access to and the cutting-edge technology provided by Blockpass coupled with peace of mind regarding security and compliance with the latest regulatory requirements. By combining our solution with their expertise, we are creating a think tank that will make a compliant reg-tech ecosystem accessible to all players within the blockchain environment.

Fintech & Blockchain

blockchain advisory malta

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy. The blockchain economy allows for a new form of organisational design though decentralised autonomous organisations DAOs , whose governance rules are specified in the blockchain. However, the recent experiences of some DAOs have highlighted that since they are run through smart contracts, if there is a bug or error in the smart contract code, the potential remedial effects could be problematic due to the autonomous enforcement mechanisms in place.

Once becoming better informed about the topic of cryptocurrency we can now look ahead to what this means on a larger scale - why major cryptocurrency exchanges are looking to base themselves on Maltese shores and how Maltese talent within the Finance and Technology sectors will be offered significant recruitment opportunities.

Malta: The blockchain island

In the simplest sense, a blockchain is a ledger that cryptographically signs and secures transaction records. The technology can be utilized for payments, securities issuance, contract automation and data transfers of all types. In a fundamental way, this disruptive technology will change how companies operate. Major companies have launched blockchain initiatives to track shipments of cargo from manufacturer to distributor to retailer, trace food products to their source in times of contamination, and create smart contracts that execute provisions automatically using workflow and scanning technology. We have an integrated team of audit, tax and consulting professionals committed to serving the blockchain industry. As the rules of the game change, we can provide middle market companies with the guidance they need to make blockchain technology work to their advantage.

PKF Malta: A Hub for Blockchain Solutions

Is the Blockchain Island idea dead? A recent MFSA announcement that the majority of companies who entered the VFA transitory period did not proceed to formally apply for their licence has spurred debate. In a statement issued last week, the national financial services regulator revealed that 57 companies which in established themselves in Malta to enter into a transitory period prior to getting their VFA licence, have failed to formally request for the licensing process to begin, six months after the deadline expired. Just 26 companies, mainly comprising of cryptocurrency exchanges, proceeded to launch the application process for a VFA service provider licence, currently being vetted by the MFSA. So far, not one company has acquired a VFA licence in Malta. This meant that such companies were availing themselves of the transitory period which allows companies to provide VFA services, but ultimately failing to apply for licencing when the time came.

KSi Malta is one of Malta's leading accountancy, audit, legal advisory and consultancy firms that can provide assistance and advice in setting up and expanding.

Initial Coin Offering (ICO) Services

Malta is the first jurisdiction worldwide to have introduced a clear legal and regulatory framework in relation to VFA, Blockchain and Fintech. Such regulations do not only provide certainty on the type of crypto-asset one is dealing with but also allow peace of mind for investors alike. The main thrust of the Act is to ensure that the industry and investors at large are well protected, and it includes requirements for the prevention of market abuse activities such as insider dealing, market manipulation and unlawful disclosure of insider information by licence holders.

Blockchain & Fintech

RELATED VIDEO: How To Create Malta's National Blockchain Strategy with Steve Tendon (ChainStrategies)

Distributed Ledger Technology and its underlying assets are paving the way for existing industries to integrate into this new disruptive technology within their infrastructure, as well as providing a foundation for new and exciting sectors to develop and flourish. Malta has been one of the leading jurisdictions when it comes to blockchain and cryptocurrencies, providing for legislative frameworks that will spearhead the innovation within this new industry. At BDO, we are also firm believers that this technology will unlock new ways of enhancing transparency and increasing protection of privacy in a cohesive manner. We want to be part of this technological revolution by assisting our clients with all their needs, may it be from a regulatory point of view as well as to the day-to-day requirements of running a successful business. We offer full tax advisory services in relation to the trading of cryptocurrencies, to full legal advisory if you are seeking to establish a blockchain business in Malta, including the launching of DLT platforms and any initial coin offerings ancillary thereto.

Your partners across multiple jurisdictions. Operate your crypto project and leave the regulatory complexities to us.

Cryptocurrency’s Move to Malta

July 31, Read More. July 12, July 7, July 5,

Blockchain in Malta

Schmid , and Stefan Bochtler. Blockchain and other distributed ledgers go far beyond cryptocurrencies. They are becoming core banking activities and offerings. These top seven DLT trends make the leading-edge possibilities accessible.

Comments: 4
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  1. Yago

    Same and so

  2. Gresham

    the useful question

  3. Camey

    Between us, I would have gone the other way.

  4. Boyce

    We speak.