PRESS RELEASE BY THE PARLIAMENTARY SECRETARIAT FOR FINANCIAL SERVICES, DIGITAL ECONOMY AND INNOVATION

Reference Number: PR172836en, Press Release Issue Date: Dec 07, 2017
 

The Bitcoin and Blockchain Conference in Malta: Maltese Government’s commitment to establish a regulatory body on DLTs

‘Innovation and technology will be the main drivers of growth in the future. This is evident in the announcements that our regulators have made.’ 

This was said by Parliamentary Secretary Silvio Schembri when addressing the Blockchain and Bitcoin Conference, which covers topics such as ICO holding, trends of the blockchain industry, development of cryptocurrencies, and the challenges of legislative regulation of the fintech sector. 

Silvio Schembri said that the MFSA issued a discussion paper on virtual currencies and the industry has until the beginning of the new year to provide feedback about how it feels that the sector should be regulated. ‘The discussion paper will lead to a policy framework that supports virtual currencies and related technologies while ensuring effective protection for investors, financial markets and stability’, Silvio Schembri said. 

During the conference, Silvio Schembri also said that the Malta Gaming Authority has issued a call for interested parties to register and provide details on distributed ledger technology (DLT) and cryptocurrencies projects, all this with the aim of increasing efficiency, managing risks better, creating opportunities and improving people’s lives. 

Silvio Schembri added that the Maltese Government is now actively looking at establishing a regulatory body for DLTs while ensuring to build a strong DLT ecosystem. ‘We want to make Malta your home’, said Schembri to the more than 350 delegates who attended the conference. 

The Blockchain and Bitcoin Conference is a series of international events which have been held in Moscow, St. Petersburg, Kiev, Stockholm, Tallinn, Prague, and now also Malta.