Parliament of Malta to pass 3 Crypto Bills in 2d Reading

Today the Maltese Parliament is to be passing the three cryptocurrency and blockchain bills through their second reading
26 June 2018   733

This event was declared by Parliamentary Secretary for Digital Innovation Silvio Schembri in his opening speech at the Malta Institute of Management Cryptocurrency Considerations for Management Conference. These laws are to enable Malta to be a crypto space of choice for investors and business owners who are interested in a favourable jurisdiction to establish their cryptocurrency or blockchain firm.

The Virtual Financial Assets Act (VFA)

This VFA is set up to controll initial coin offerings (ICO). The bill affirms that projects engaging funding through ICO have to issue White Papers. The order also demands that the issuer’s financial history must be made public.

The Malta Digital Innovation Authority Act (MDIA)

The MDIA claims that an industry-specific governing structure will be instituted. This authority will be accountable to support the development and adoption of the guiding principles described in this Act and to promote consistent principles for the development of visions, skills, and other qualities towarding technology innovation. 

The Innovative Technology Arrangements and Services Act

This order is about the regulation of designated innovative technology arrangements. It will be the mechanism by which blockchain-built enterprises are estimated as such under the law, and as such will be the basis for the previous two bills to operate.

The implemention of these new bills provides an investor a transparent picture of the legal framework demanded to start a legitimate cryptocurrency business in Malta. 

Most Crypto-Optimists Live in Norway, Bitflyer Study

According to bitFlyer's poll on future of crypto, europeans believes cryptocurrency has future
24 April 2019   83

Most Europeans believe that in ten years digital currencies will continue to be in demand, but they do not have the same confidence about Bitcoin. This is reported by Cryptonews, citing a study of the bitFlyer.

10 thousand people from ten European countries took part in the online survey. Of these, 63% believe in a “bright future” cryptocurrency. However, not all Europeans are confident in the future of Bitcoin - only 55% believe that the first cryptocurrency will exist in ten years.

It is also noteworthy that, despite the fall in prices of most cryptocurrencies that lasted for almost a year, the majority of respondents positively assessed the prospects for the development of the market.

Most of the “crypto-optimists” turned out to live in Norway - 73% of the inhabitants of this Scandinavian country are convinced that a decade later, digital currencies will still be in society. This is followed by Italy (68%), the Netherlands and Poland close the top four (67% each).

The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time
The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time

But the exact form of cryptocurrency will exist, almost no one knows. Only 8% believe that they will become money, and 7% - a tool for investment or a means of preserving value.

The fact that Bitcoin is not generating as much support as other cryptocurrencies is in part a symptom of the market’s volatility, but is also a direct impact of the constant media attention that is associated to its volatility.

Andy Bryant

COO, bitFlyer Europe

He also added that the study demonstrated how much remains to be done to increase public awareness of the benefits and opportunities of cryptocurrencies.