Blockchain Platform Waves To Expand Operations To Malta

Announcements, Blockchain, News | September 13, 2018 By:

Decentralized blockchain platform Waves is in talks with the government of Malta regarding the company’s accreditation to operate within the territory of the state.

Sasha Ivanov, CEO of Waves, recently met with Prime Minister Joseph Muscat and representatives of the Maltese government to discuss technological cooperation in the fields of healthcare, land registry, voting and other areas, as well as proposals to use Waves as a platform for tokenized financial instruments. The meeting was reportedly encouraging and discussions will continue. Waves said the company’s ultimate goal is to receive a license to operate within the island.

“We are interested in this accreditation and are ready to start working with Malta‚Äôs legal experts to bring our ready-to-use blockchain solutions here: Waves for the financial sector and Vostok for the government and corporate sectors,” Ivanov said.

Malta has been pushing towards officially becoming the center of excellence in blockchain, crypto and initial coin offerings (ICO). Earlier this year, the Cabinet of Malta approved three Acts related to cryptocurrency and blockchain technology – The Malta Digital Innovation Authority Act (MDIA), the Innovative Technology Arrangements and Services Act (ITAS) and the Virtual Financial Assets Act (VFA).

Joseph Cuschieri, CEO of the Malta Financial Services Authority (MFSA), recently announced that the crypto-related Acts will come into force on November 1. Until then, cryptocurrency exchanges and ICO issuers may commence offering their services in an unregulated manner which does not constitute a breach of law. They will subsequently have a year from this date to comply with the laws and applicable regulations as issued by the MFSA. On the other hand, ICO issuers which have commenced their launch post October 18, as well as those who have applied for admissibility to trade their tokens will have three months to become compliant and register their whitepaper.