Malta As The First Blockchain, DLT And Cryptocurrency Island
The not great archipelago of Malta is on its way to turn into the ”world’s first blockchain island” after the officials handed the first extensive DLT (Distributed Ledger Technology) law at the beginning of this month and at present it has adopted the 3rd and definitive interpretation of the draft laws that will adjust the operation related to blockchain, cryptocurrency and DLT.
Hitherto, Malta has prospered to possess the largest cryptocurrency exchanges and is over to be the greatest center for these innovation technologies. So long as other nations are still expecting for other for proven and tested legal structure and are passing just laws on blockchain and cryotpcurrency, Malta come with more comprehensive and universal regulations.
The Maltese Parliament moved three bills into law, named “Malta Digital Innovation Authority Act”, the “Innovative Technology Arrangements and Services Act” and the Virtual Finances Assets Act”.
But yet previously these laws were in place, the island has been popular as a crypto-friendly nations. It handles to attract the world’s largest crypto exchange, Binance, that opened a department in the country this year, and it was accompanied by the fourth largest exchange, OKEx.
It is anticipated for Malta to turn into the first jurisdiction in the world to have laws which fully embrace the circulation of cryptocurrencies, the start of initial coin offerings and further treatment of holdings suggested to investors as well as blockchain/DLT service supplies and services which they render, involving the establishing of cryptocurrency exchange.