The MFSA has issued a Discussion Paper on Initial Coin Offerings (ICOs), Virtual Currencies (VCs) and related Service Providers.
A Policy Framework that Supports Innovation in Malta Financial Services
The purpose of the Discussion Paper is to present to the industry a proposed policy to be adopted by the MFSA for the regulation of ICOs, VCs and service providers involved in ICOs and/or VCs activity.
The MFSA is aiming that this Discussion Paper will lead to a policy framework that supports the innovation and new technologies for financial services in the area of VCs whilst ensuring effective protection for investors, financial market integrity and financial stability.
The proposals presented by the MFSA in the Discussion Paper are not binding and are subject to further changes and improvements following receipt of feedback from the industry. In this regard, the MFSA has invited stakeholders to submit their feedback on vcfunds@mfsa.com.mt by 11th January 2017.
A copy of the Discussion Paper can be downloaded here.
Our Fintech Practice
At Chetcuti Cauchi, we welcome the innovations which the financial services sector is currently undergoing and seek to provide bespoke solutions to our clients by fusing together traditional legal notions with new technologies. We are delighted to be part of this process and will provide our feedback on the Discussion Paper by the set deadline.
Should you wish to set up a meeting to discuss how you could be one of the pioneers to explore Malta's potential as a fintech hub, kindly contact us on fsu@cclex.com and we'd be happy to call you back.
