Topic: New laws of Malta on ICO (Read 344 times)
More and more companies are moving to Malta with their crypto businesses. I hope other countires will follow.
The Government of Malta has just published 3 draft laws on local regulation of ISO.
In comments in the press met the description of these laws. And it says about the requirements for white paper. I can not find - will someone help?
In comments in the press met the description of these laws. And it says about the requirements for white paper. I can not find - will someone help?
Malta ike a crypto Island. Malta, aka, “Blockchain Island” has been making waves lately in the world of cryptocurrency and governance. Its latest move involves the crypto exchange Binance and the ICO builders at Neufund.
Some records I am offering assume so helpful to others.
Malta Digital Innovation Authority Bill
The new authority could be created, called the Malta Digital Innovation Authority (MDIA) if you want to oversee the certification of blockchain platforms and cryptocurrencies, as well as the functioning of ICOs.
Regulation of Initial Coin Offerings Bill
The 2d invoice will pertain to virtual currencies, and mainly, it will offer stringent guidance and regulation for Initial Coin Offerings and different services associated with VCs.
Technology Service Providers Bill
The different bill within the holy trinity of law may be the TAS Bill.
It will are searching for to modify Technology Service Providers.
Malta Digital Innovation Authority Bill
The new authority could be created, called the Malta Digital Innovation Authority (MDIA) if you want to oversee the certification of blockchain platforms and cryptocurrencies, as well as the functioning of ICOs.
Regulation of Initial Coin Offerings Bill
The 2d invoice will pertain to virtual currencies, and mainly, it will offer stringent guidance and regulation for Initial Coin Offerings and different services associated with VCs.
Technology Service Providers Bill
The different bill within the holy trinity of law may be the TAS Bill.
It will are searching for to modify Technology Service Providers.
Russia is more perspective country for such projects. However, everything depends on the project specifications. For example, there is one cool project - Socratus. I really like their concept - a platform for insurance companies that was created in order to make the communication between customer and insurance company more convenient and simple. It helps to get read of annoying personal meetings and paper work. With this ecosystem, companies will be able to cut operating costs, create new insurance products, deal with data analysis more efficiently and many other benefits.
This is good news that begins at the legislative level of ICO regulation and investor support!
Malta is one of the first in the world to create a special body that will regulate the cryptosphere. In most countries, traditional regulators are engaged in this. This state is considered one of the most friendly to the cryptosphere. The adopted laws should strengthen the country's position in this area.
It helps the community more when the regulation of bitcoin in each country be approved or have been because the popularity of bitcoin depends on its legality.. Malta been one of the country maybe small,, but welcomed cryptocurrency widely open n mindlessly..
ICO with its reputation in scamming for so many complaints and investigations before the importance of a regulating agency is best for both the government and investors security..
ICO with its reputation in scamming for so many complaints and investigations before the importance of a regulating agency is best for both the government and investors security..
So the predictions of smaller and more agile economies taking a lead in crypto are playing out.
The question is at what point do larger countries start to apply pressure if things are really exploding and do they yield to them?
The question is at what point do larger countries start to apply pressure if things are really exploding and do they yield to them?
Lets not forget that this is about a contest between cryptocurrency and fiat. So most likely, to clasify a country as big means that the country is doing well economically and that their fiat is strong, okay and their pride. In that sense, they may not be in a rush to pioneer the race for a crypto economy. Hence, they can only want to take up the mantle when is obvious that they can't go back to continue following the globe as it is changing.
This makes Malta one of the friendliest crypto jurisdictions to date. Maybe with this framework, we can begin to see other jurisdictions similar in size look to capitalize on the slow movement of the EU and US regulators.
So the predictions of smaller and more agile economies taking a lead in crypto are playing out.
The question is at what point do larger countries start to apply pressure if things are really exploding and do they yield to them?
The question is at what point do larger countries start to apply pressure if things are really exploding and do they yield to them?
The only reason these smaller places exist is to bypass unfair things in huge states. Perhaps someone finds that their local tax requirements are insanely high and it's ruining their wealth, these small jurisdictions will always find profit in filling that need.
Same goes for prohibitive requirements to be "qualified investors" in order to invest (for example ICOs)
Im not sure to what extent big nations can push small jurisdictions to follow their orders, but it's possible big governments don't and will never do nothing about the so called tax havens because the government itself is profiting from them. Just look at Trump, he is known for avoiding taxes and he is now the president. Im sure all of them have off-shore accounts while they punish their citizens with high taxes, when (in an ideal world) these with insane amounts of money should be helping paying the most. Of course as long as an ideal world doesn't exist, these places will exist, just like governments with insane taxes will also exist.
There is something that intrigues me the most on ther article provided by Jet Cash and that is how Binance and OKex took advantage of the situation and made their services available for the country. Foreign exchanges taking over their trading is not a bad idea but if they do want to have a bigger economy and the best benefit coming to their country in terms of income I think allowing a local company to create their own exchange is another option, they will also have control in their regulation as it is operating locally.
Yeah, although I thought it would be Gibraltar to be the one to lead, especially when it made the announcements of its regulated blockchain exchange - and then the coming into effect of its blockchain Act in 2018 that would really attract these big guys. Binance seems to have escaped the attentions of its home country (and was it Japan that it tried at first?). I always believed this was going to be the "new Swiss bank" era of private finance, now that banking everywhere is forced to comply with regulations to get out of blacklists.
Can't run away forever, though, and centralised exchanges will have to pursue some form of decentralised business when the dust settles.
There is something that intrigues me the most on ther article provided by Jet Cash and that is how Binance and OKex took advantage of the situation and made their services available for the country. Foreign exchanges taking over their trading is not a bad idea but if they do want to have a bigger economy and the best benefit coming to their country in terms of income I think allowing a local company to create their own exchange is another option, they will also have control in their regulation as it is operating locally.
Well, who else should have started. They know what to put and what will bring them a lot of profit in the future.
Malta has taken the very first step in the matter of crypto currencies. The new law of Malta on ICO is responsive. Malta approves three new bills to provide regulations to crypto market.
New laws of Malta on ICO. It is a positive response.
Wow, I really did not suppose that Malta is so friendly regarding this.
Yes thank you.
I found the full document.
http://justiceservices.gov.mt/DownloadDocument.aspx?app=lp&itemid=29079&l=
In the term, "white paper" the law unites and other documents. The first meaning of the term is being erased.
The term came from marketing, but it turns into a volume technical document.
But in general this is very good news.
I found the full document.
http://justiceservices.gov.mt/DownloadDocument.aspx?app=lp&itemid=29079&l=
In the term, "white paper" the law unites and other documents. The first meaning of the term is being erased.
The term came from marketing, but it turns into a volume technical document.
But in general this is very good news.
I was searching for this information. I really thank you for sharing. Malta has taken the first step in this matter and I am really curious what changes will be made as a result
However, I doubt anything has been specifically mentioned about whitepaper here. These bills are covering the matter at a very high level. If you want to get more closer look at it, I suggest you to get in touch with a lawyer who are expert in crypto related matters. Because looking at these bills, it's hard to pinpoint anything about the whitepaper specifically.
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There is a constant discussion about the content of the document - "white paper".
In my opinion everyone has already forgotten that this is a marketing document. It should not be long and tedious.
ICO's teams compete to write it more and more, as the novel harry potter
My opinion is not right.
If malta formulated the requirements for the document - it will be objective.
You do not need a lawyer to study. Thank you.
Malta has always been more friendly to the Internet.
Ten years ago, she pulled all the playgrounds to her. And the Isle of Man was left with nothing. Then Malta was able to withstand the pressure of the United States on online poker. Let's see how it will be now.
Ten years ago, she pulled all the playgrounds to her. And the Isle of Man was left with nothing. Then Malta was able to withstand the pressure of the United States on online poker. Let's see how it will be now.
Yes thank you.
I found the full document.
http://justiceservices.gov.mt/DownloadDocument.aspx?app=lp&itemid=29079&l=
In the term, "white paper" the law unites and other documents. The first meaning of the term is being erased.
The term came from marketing, but it turns into a volume technical document.
But in general this is very good news.
Really it is a great news coming from Malta. If more countries begin to put investors plight into consideration as to regulating and supporting exchanges, more investors would push more money into cryptos and the market off will moon more. Nice news. I found the full document.
http://justiceservices.gov.mt/DownloadDocument.aspx?app=lp&itemid=29079&l=
In the term, "white paper" the law unites and other documents. The first meaning of the term is being erased.
The term came from marketing, but it turns into a volume technical document.
But in general this is very good news.
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