In the coming weeks Malta is launching the world’s first legal framework for the creation of a body to regulate Blockchain, Artificial Intelligence, and IOT devices. p>
Parliamentary Secretary Silvio Schembri announced at the Unlock Blockchain conference in Dubai that the government had worked closely with the industry to come up with a legal framework that satisfies the AML and KYC regulations, without stifling technology innovation. p>
“This new regulator will help those who wish to invest in this sector to operate within a legal structure and gain the trust of millions of potential customers all over the world who want to make use of new services related to blockchain technology,” he said. p>
Malta is also planning to cooperate with Dubai, working hand in hand on several projects for the use of blockchain technology in several sectors. p>