Malta wants to be known as the “blockchain island” and has moved further along that path by naming the first chief executive of what will be known as the Malta Digital Innovation Authority, the government has announced.

Stephen McCarthy will be in charge of regulating blockchain, the Times of Malta reported. He has an accounting background and was previously CEO of Malta’s Housing Authority.

The announcement follows news this week that Malta’s parliament approved, on a second reading, two bills to regulate digital ledger technologies including blockchain, and virtual financial assets, CoinTelegraph reports. Lawmakers also passed a third bill creating the entity where McCarthy will be working.

Cointelegraph reports that several large cryptocurrency exchanges have recently moved their operations to Malta as the country has worked hard to burnish its crypto-friendly reputation. Read more here.

ThirtyK Staff
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