{"id":21841,"date":"2018-07-05T17:51:34","date_gmt":"2018-07-05T17:51:34","guid":{"rendered":"http:\/\/ci027cfe67100126c3"},"modified":"2018-07-05T17:51:34","modified_gmt":"2018-07-05T17:51:34","slug":"maltese-parliament-passes-three-blockchain-bills-law","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/maltese-parliament-passes-three-blockchain-bills-law","title":{"rendered":"Maltese Parliament Passes Three Blockchain Bills into Law"},"content":{"rendered":"
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The Maltese Parliament has passed three bills into law that establish a regulatory framework for the country’s blockchain sector, Malta Today<\/a><\/em> reports.<\/p>\n

Just last week, the Parliament \u201cunanimously voted\u201d to approve<\/a> these bills in its second reading. The bills include the Malta Digital Innovation Authority Act, the Innovative Technological Arrangement and Services Act, and the Virtual Financial Asset Act.<\/p>\n

Silvio Schembri, the Parliamentary Secretary for Financial Services, Digital Economy and Innovation, shared an update<\/a> on Twitter about the new development, which he believes will make Malta \u201cthe first world jurisdiction to provide legal certainty to this space.\u201d <\/p>\n

\u201cThe 3 Bills that will regulate DLT [distributed ledger technology] have been approved by Parliament and enacted into law,\u201d the tweet reads. <\/p>\n

The blockchain bills are designed to make Malta a hotspot for blockchain and cryptocurrency companies. Schembri believes that they will attract new businesses and put investors\u2019 minds to rest. <\/p>\n

While celebrating the new milestone in an update shared<\/a> on Twitter, Maltese Prime Minister Joseph Muscat said that the new laws will make Malta a \u201cglobal hub for market leaders\u201d in the blockchain industry. <\/p>\n

According to Muscat, the new legislation proves that Malta is the first country globally with a \u201cholistic legislative framework\u201d for regulating the blockchain space. Blockchain companies now have the legal tools necessary to operate in a forward-looking, regulated economy, the prime minister added.<\/p>\n

With the new blockchain laws, Malta has distinguished itself as among the world’s most friendly blockchain jurisdictions and has taken yet another step in becoming the world\u2019s blockchain island<\/a>. <\/p>\n

The Maltese government has been working through different avenues to apply blockchain technology to public service. Earlier this year, it partnered with Omnitude<\/a> to improve the transport system using DLT. In the past, the government has conducted<\/a> a feasibility study using blockchain technology to record academic certificates. <\/p>\n

Many crypto and blockchain businesses have already set up shop in Malta, as well. The most notable ones include OKEx<\/a>, Binance<\/a> and BitPay<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Malta’s parliament just approved three blockchain-related bills into law, further cementing the country as one of the most crypto-friendly jurisdictions in the world.<\/p>\n","protected":false},"author":3435,"featured_media":21842,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1454,3317,253],"class_list":{"0":"post-21841","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-legislation","9":"tag-malta","10":"tag-parliament"},"author_data":{"id":3435,"name":"Jimmy Aki","nicename":"jimmy-aki","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/jimmy-aki-promo-image-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/maltese-parliament-passes-three-blockchain-bills-into-law.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/21841","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3435"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=21841"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/21841\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/21842"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=21841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=21841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=21841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}