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Payments & FinTech Lawyer

Malta becomes the world’s first ‘blockchain island’

On 4 July 2018, Malta officially passed into law three bills that establish it as one of the first countries to enact a regulatory framework for blockchain technologies and cryptocurrency. While other nations have decided to wait for a tried-and-tested legal framework on which to base their regulations, Malta has pioneered legislation in the industry. This move could represent an intention to make Malta a hotspot and could, as Denitza Dimitrova, Partner at Denitza Dimitrova Consultus describes, earn it the title of the world’s first ‘blockchain island.’ Dimitrova here provides insight into the three bills and the impact they could have on global attitudes towards regulating blockchain and cryptocurrency.

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