ICO, VC and DLT Regulations and Banking


Recently the Malta Financial Services Authority issued a framework for public consultation whereby details of proposed mechanics to offer a legal operation within regulatory boundaries into this space of an unregulated area.

This framework gets into the detail of legal personality, authorizations, smart contracts, DLT (Distributed Ledger Technology – Blockchain) and VC (Virtual Currencies).

Malta as an already established regulator in gaming sector is looking into being the first jurisiction to regulate such an emerging innovation through technology. The main objectives are to protect consumer, stability of the market and integrity of the same market.

The Maltese government is exploring the possibility to set up an Authority followed by a robust regime. This will be addressing the requirements to regulate ICOs, Virtual Currencies and other ancillary services attached.

ICOinMalta which recently partnered up with IGamingAdvisors are on the forefront of such regulation and currently assists and guides on a number of fronts it clients which are well known into this field.

ICOinMalta is a tried and testing firm that has paved the way for a number of ICOs into establishing themselves into this sphere.

Once the above mentioned regulation is launched, ICOinMalta will be submitting a number of application of its clients to get in line and regulate themselves. Although it is envisaged a very stringent licensing process it is guaranteed that ICOinMalta will provide a handholding guidance to acquire the necessary approvals.

The opening of a bank account for such an operation is foreseen as being almost an impossible target to reach. At ICOinMalta the process of opening a bank account is relatively a day to day procedure that have already accommodated a number of operations within this sphere.

It must be acknowledged that the level of scrutiny conducted by the bank on operations of this nature (e.g adherence with 4th AML Directive) is very detailed and meticulously conducted. The banking procedures applied are justified. At ICOinMalta we have all the required experience to guide you through this process and to open a bank account successfully.



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