News

The launch of the new Gaming Act simplifies the Malta Gaming Licence. The new Malta Gaming Act provides for only 2 types of licences: Business-to-Business (B2B) and Business-to-Customer (B2C).

Changes in the organisational structure of the Malta Registry of Companies

To strengthen the concept of Malta as the official Blockchain Island, three bills have recently been approved by Parliament to regulate Distributed Ledger Technologies, including Blockchain and Cryptocurrencies. With various incentives attracting foreign direct investment, Malta is proving to be the ideal jurisdiction. Chetcuti Cauchi has welcomed the business-friendly approach Malta has adopted, with the hope of providing assistance to clients who wish to invest in the Blockchain Island.

Mondaq, one of the most popular hosts for articles written by professional advisors, has named Chetcuti Cauchi Advocates the ‘Contributor Most Read’ in Malta for March 2018.

The DQR Group, a renowned German conglomerate of companies specialising in blockchain-based services in research and education, has announced it shall be establishing its headquarters in Malta. This is set to cement Malta's reputation as a Blockchain island and employ over 200 workers

The MFSA has recently issued a Financial Instruments Test ('the Test') which those setting up an ICO in Malta or undertaking any activity in relation to such DLT assets in or from Malta, including those already issued overseas will need to apply to determine which set of regulations will regulate their business. The Test will determine whether a DLT asset will be treated as a Virtual Token, a Virtual Financial Token or as a financial instrument under MiFID.

Capital markets in Malta are increasingly experiencing growth as well as liquidity. Malta has proved to be successful in the various financial services sectors and is also committed to develop its capital markets. In this respect, in October 2016, the Malta Stock Exchange (MSE) launched the ‘National Capital Markets Strategic Plan’ with the aim to enhance the potential of the Maltese capital markets and increase Malta’s international profile as a proactive financial centre. The ‘National Capital

Malta is looking into allowing gaming companies to accept cryptocurrencies. On the 29th of March, the Malta Gaming Authority issued a consultation document which provides guidance on the use of Distributed Ledger Technology and on the acceptance of Virtual Currencies through the implementation of a Sandbox Environment. The purpose behind this is for MGA to be at the forefront of remote gaming regulation and the use of new technologies.

Chetcuti Cauchi Advocates in New York

On the 12th April, 2018, OKEx Technology Co., another leading company in the global bitcoin exchange announced that it shall be expanding its operations and setting up shop in Malta. The news was welcomed by the Government and local technology service providers alike, and comes just a few weeks after the Government unveiled its plans to create a legal and regulatory framework for businesses involved in the Fintech sector, particularly those which shall be dealing with cryptocurrency.