Malta's vision is to create a thriving blockchain economy by providing a high level of regulatory certainty to a space that thus far is mostly unregulated. The ambition is that the sector will account for 10% of GDP by 2027. A new regulatory authority is set to be established which will be responsible for the certification of DLT platforms and smart contracts, while handling the voluntary registration of technology service providers. The proposed framework also includes a regime for the approval of Initial Coin Offerings (ICOs), as well as the regulation of cryptocurrency service providers. Activity around blockchain technology is already ramping up significantly. Crypto Exchanges Binance and OKEx has opened offices, cryptocurrency entrepreneurs are preparing to launch the first ICOs from the island, and blockchain-related start-ups are putting their applications and products on the market, intent on pushing the boundaries of technology into new markets.
Cryptology Asset Group
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