{"id":7034,"date":"2018-07-05T00:00:00","date_gmt":"2018-07-05T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/2018\/07\/05\/malta-approves-3-bills-to-regulate-blockchain-and-cryptocurrencies\/"},"modified":"2023-04-03T11:53:26","modified_gmt":"2023-04-03T11:53:26","slug":"malta-approves-3-bills-to-regulate-blockchain-and-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/malta-approves-3-bills-to-regulate-blockchain-and-cryptocurrencies\/","title":{"rendered":"Malta approves 3 bills to regulate blockchain and cryptocurrencies"},"content":{"rendered":"<p style=\"text-align: justify\">Malta remains determined to be a pioneer in the <a href=\"https:\/\/crypto-economy.com\/cryptocurrency-exchange-rate\/\"><strong>cryptocurrencies<\/strong><\/a> and blockchain sector, and once again is making news regarding these new technologies, as <strong>its parliament has approved three bills to regulate blockchain and cryptocurrencies.<\/strong><\/p>\n<p style=\"text-align: justify\"><!--more--><\/p>\n<p style=\"text-align: center\"><em>\u201cMalta is officially the first country worldwide to have holistic legislative framework regulating blockchain &amp; DLT technologies. We will be the global hub for market leaders in this new sector. Now for the implementation of BlockchainIsland.\u201d<\/em> says Joseph Muscat (Prime Minister and leader of the Labor Party &#8211; Malta.)<\/p>\n<p style=\"text-align: justify\">Four projects were presented and approved on July 4, 2018 in the parliament of Malta, of which 3 are focused on establishing a regulatory framework for the blockchain sector and cryptocurrencies and the fourth seeks to establish the infrastructure of the island country.<\/p>\n<p style=\"text-align: center\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-67938 size-full\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2022\/12\/blockchain-malta.jpg\" alt=\"malta the blockchain island\" width=\"700\" height=\"245\" \/><br \/>\n<em>\u201cThe parliamentary approval of the law regarding Infrastructure Malta is a great step forward to strengthen the work and investment through which our country will have roads and other infrastructure of the highest quality in the years to come.\u201d<\/em>, said Ian Borg (Minister for Transport in Malta)<\/p>\n<p style=\"text-align: justify\">Regarding the regulatory framework for blockchain and cryptocurrencies, the approved laws have been:<\/p>\n<ul style=\"text-align: justify\">\n<li><strong>The Malta Digital Innovation Act:<\/strong> That will allow the creation of the Malta Digital Innovation Authority (MDIA).<\/li>\n<li><strong>The Innovative Technological Services and Arrangements Act:<\/strong> That will establish the regulations required by the Digital Innovation Authority (MDIA).<\/li>\n<li><strong>The Virtual Financial Assets Act:<\/strong> Responsible for regulating the market and protecting the investor.<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong>Silvio Schembri<\/strong>, the Parliamentary Secretary for Digital Innovation and Finance in Malta, commented that blockchain and cryptocurrencies will become the pillar of the country&#8217;s growth in the next 4 to 5 years.<\/p>\n<p style=\"text-align: justify\">The objective of Malta is to become the &#8220;Blockchain Island&#8221;, its position in favor of this technology means that many companies related to the sector will choose the island as a destination for their businesses.<\/p>\n<p style=\"text-align: justify\"><img decoding=\"async\" class=\"aligncenter wp-image-67952 size-full\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2022\/12\/binance-malta.jpg\" alt=\"malta will be the destination of fintech companies\" width=\"700\" height=\"245\" \/><br \/>\nBinance, the exchange that handles a greater volume of transactions in cryptocurrencies, <a href=\"https:\/\/crypto-economy.com\/binance-announces-its-transfer-to-malta\/\"><strong>announced the transfer of its operations center to Malta last March.<\/strong><\/a><\/p>\n<p style=\"text-align: center\"><em>\u201c<strong>Welcome to Malta Binance<\/strong>. We aim to be the global trailblazers in the regulation of blockchain-based businesses and the jurisdiction of quality and choice for the world class fintech companies\u201d,<\/em> said Joseph Muscat to welcome the exchange to the island.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Malta remains determined to be a pioneer in the cryptocurrencies and blockchain sector, and once again is making news regarding these new technologies, as its parliament has approved three bills to regulate blockchain and cryptocurrencies.<\/p>\n","protected":false},"author":5,"featured_media":7037,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[84,74,88],"tags":[4601,4620,4656,4756],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/7034"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=7034"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/7034\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/7037"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=7034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=7034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=7034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}