The Malta Financial Services Authority (MFSA) has published a discussion paper on cryptocurrencies, Initial Coin Offerings (ICOs) and related service providers.
The MFSA is hoping its discussion paper will lead to a policy framework that supports virtual currencies and related technologies while ensuring effective protection for investors, financial market integrity and stability. The consultation period is open until the 11th of January 2018.
All those interested in investing in this new sector of the digital economy are being encouraged to come forward and make their recommendations.
One of these potential investors is Stasis.Net, a company which “provides governments with an efficient platform to tokenize fiat currencies and transform them into digital versions on a blockchain in a fast and secure way.”
Investors from Stasis.Net met with Government officials and stated that they will be sending their recommendations for an effective legal framework that regulates the use of blockchain technology and cryptocurrencies to both the national blockchain taskforce and the MFSA.
The CEO and founder of Stasis.Net Gregory Klumov reiterated his satisfaction with Malta endorsing and supporting new regulatory approaches to blockchain and cryptocurrencies in the reshaping of the future of digital assets.
“Soon, we will be able to bridge the existing gap between on-demand blockchain economy and finance, which people can benefit from,” Mr Klumov said.
Meanwhile, Parliamentary Secretary Silvio Schembri stated that Malta was developing appropriate legislation to become an international hub for blockchain operators.