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The Maltese Parliament has passed three bills into law that establish a regulatory framework for the country’s blockchain sector, Malta Today reports.
Just last week, the Parliament “unanimously voted” to approve these bills in its second reading. The bills include the Malta Digital Innovation Authority Act, the Innovative Technological Arrangement and Services Act, and the Virtual Financial Asset Act.
Silvio Schembri, the Parliamentary Secretary for Financial Services, Digital Economy and Innovation, shared an update on Twitter about the new development, which he believes will make Malta “the first world jurisdiction to provide legal certainty to this space.”
In Saturday’s Bitcoin in Brief, we cover some of the new expansion plans of leading cryptocurrency trading platforms. Singapore-based Huobi has confirmed its intentions to open an office in London, and US exchange Coinbase is about to do the same in Portland, Oregon. Also, a new crypto vault in Switzerland offers safe storage for cryptocurrencies, while the parliament in Valletta has approved three bills designed to increase the attractiveness of Malta for businesses in the crypto space.
While governments worldwide drag their feet and argue over cryptocurrency legislation, various states in the US are vying to become the blockchain capitol of the country. Arizona aims to allow state taxpayers the ability to pay their fair share with Bitcoin, while Tennessee looks to officially legitimize cryptocurrency purchases by making them legal on paper. Now, Wyoming is throwing its hat into the ring, with four blockchain boosting pieces of legislation up for consideration.
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