Parliamentary Secretary for Financial Services, Digital Economy and Innovation, Silvio Schembri today welcomed the publication of rules regulating collective investment schemes by the Malta Financial Services Authority.
The regulatory framework being presented will be the first of its kind, making Malta the first jurisdiction to set-up this framework to ensure investor protection and financial soundness with regards to collective investment schemes that invest in virtual currencies.
“This is the first step towards having a Virtual Currency Act,” Parliamentary Secretary Silvio Schembri said, whilst stating that work is being carried out for regulating virtual currencies, ICO’s, exchanges and the use of blockchain technology.
The publication of the rules ensures that risks associated with virtual currencies are properly addressed.
This is another step towards sustaining Malta’s digital economy, Silvio Schembri concluded.
MFSA’s feedback statement can be read on:
https://www.mfsa.com.mt/pages/announcements.aspx?id=9