It’s official: On Wednesday Malta’s parliament approved the three bills needed to create regulatory oversight for cryptocurrencies and digital ledger technologies including blockchain. The bills had passed a second reading last week, the day before the government named Stephen McCarthy as the island nation’s first blockchain regulator.
“I think that blockchain technology, DLT and cryptocurrency is where innovation is happening right now and we are very glad that Malta can offer the first jurisdiction in the world to regulate this sector,” Joseph Muscat, Malta’s Prime Minister, told a Forbes contributor. “We are excited about what this will lead to in the future.”
A number of blockchain companies have already set up shop on Malta as it works to become a crypto-paradise for the industry. Read more here.