Fineqia Announces The Creation Of The Affiliate Company On Malta
Fineqia International Inc. is pleased to announce the establishment of the affiliate company in Malta, through which it will own its investment shares.
Fineqia Investments Limited was established in Malta to keep the growing portfolio of blockcahain, Finteh and cryptocurrency technologies companies all over the world, such as the Estonian company Black Insurance, the Maltese company IXL PremFina Ltd. and the British company Nivaura Ltd.
Malta, a European island country located not a long way from Italy, was chosen for its progressed regulatory system that qualifies and controls blockchain and digital currency organizations. Malta likewise benefits from its membership in the European Union (EU), under which EU financial directives contribute regulated business activities in 28 Member States.
Malta, which uses English as one of its official languages, approved three laws this summer that indicate changes in the legal system of the country that monitors business related to cryptocurrencies. The Malta Digital Innovation Authority Act (MDIA) has established the Malta Digital Innovation Authority, which focuses on governance mechanisms and certifies DLT for the credibility and legal certainty of users.
The Innovative Technology Arrangement and Services Act (ITAS) deals with DLT agreements and certification of DLT platforms. It concerns the creation of exchanges and other cryptocurrency companies, such as identity verification services and electronic wallet vendors. The Law on Virtual Financial Assets (VFA) establishes the regulatory regime that governs companies, as well as the initial coin offerings (ICO).