Following the introduction of the Virtual Financial Assets Regulations, Malta became one of the first countries to regulate digital assets be they in the form of tokens, ICOs, exchanges or other assets built on blockchain and distributed ledger technologies.
The Malta Digital Innovation Authority is the primary authority responsible for promoting all governmental policies that promote Malta as the centre for excellence for technological innovation. The authority is also responsible for setting and enforcing standards that ensure compliance with any other international obligations.
Any services or activities identified as financial instruments under these regulations fall within the remit of the Malta Financial Services Authority. Building on the combined benefits of these regulations and structure, the Malta Gaming Authority also published guidelines on how to use its Sandbox Framework for the acceptance of Virtual Financial Assets and the use of Distributed Ledger Technology within the Gaming Industry.