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Malta’s new regulatory framework built for blockchain technology

Blockchain has the potential to powerfully disrupt many aspects of how businesses and economies work; even how societies are organised. Blockchain goes to the core of the role of trust in markets – an area that is central to PwC’s purpose.

Malta’s strategy and regulatory framework for Distributed Ledger Technologies (DLT) such as cryptocurrency businesses (including exchanges) and virtual assets is creating new business opportunities in a fast-evolving digital environment. The Maltese parliament is enacting three new laws enabling blockchain based businesses: The Malta Digital Innovation Authority Bill, The Technology Arrangements and Services Bill and the Virtual Financial Assets Bill.

PwC is helping its clients develop and execute their blockchain strategies. Together with our global network of PwC firms we strive to deliver blockchain solutions that provide trust, transparency, and security. Together, we can differentiate your business and help you set the stage for future growth.

 

blockchain-pwc-malta

Bills to be approved by the Maltese Parliament

Three bills have been published by Government that should take on the force of law following Parliamentary approval. Although they are still subject to change, they should provide a strong indication of what these laws will eventually regulate. Of notable value, is the Virtual Financial Assets Bill that should regulate and allow for Initial Coin Offerings (ICOs) as well as cryptocurrency exchanges in and from Malta.

Below is a short brief about each law and a link to the full version published by Government:

 

 

 

How can PwC help?

Technology

PwC's Technology Services offers a complete range of consultancy, delivery and support services, giving you the option to request a specific IT skill or, more commonly, take a fully integrated end-to-end IT solution. PwC also offers specialist skills in areas of IT security, business continuity and disaster recovery.

 

For more information contact:
George Sammut

E: george.sammut@mt.pwc.com

Keith Cutajar
E: keith.cutajar@mt.pwc.com

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Regulatory

PwC's financial services and gaming regulatory practice assists financial institutions and gaming operators in managing and implementing change driven by new regulation and strategic risk management objectives.

 

For more information contact:
Fabio Axisa

E: fabio.axisa@mt.pwc.com

Chris Mifsud Bonnici
E: chris.mifsud.bonnici@mt.pwc.com

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Tax and Legal

PwC's tax and legal services unit is manned by a pool of accountants and lawyers with considerable experience on individual and corporate clients both on local and international tax and other matters.

 

For more information contact:
Mark Lautier
E: mark.lautier@mt.pwc.com

Mark Abela
E: mark.abela@mt.pwc.com

 

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Assurance

PwC is the leading audit service provider in Malta and our audit clients include companies involved in a wide range of businesses such as manufacturing, hospitality, retailing, information technology and financial services.

 

For more information contact
Joseph Camilleri

E: joseph.camilleri@mt.pwc.com

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Advisory

PwC’s advisory services vary from transaction services (including valuation and strategy, project finance, financial due diligence, commercial and market due diligence, mergers and acquisitions, accountancy valuations, privatisations), performance improvement and system process assurance. PwC will work alongside our clients to see our proposals come to life. 

 

For more information contact
Bonavent Gauci

E: bonavent.gauci@mt.pwc.com

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Contact us

David Valenzia

David Valenzia

Territory Senior Partner, PwC Malta

Tel: +356 2564 6892

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