Category: Cryptocurrency Exchange

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Centralised and decentralised exchanges – what is the difference?

Categories Blockchain, Cryptocurrency, Technology, Cryptocurrency Exchange, Tokens, Wallet, Market, Market Cap, Exchanges, DLT, FIAT

Centralised and decentralised exchanges – what is the difference?

In the world of cryptocurrency, there are two different and very distinct types of exchange, a centralised and a decentralised ones. But what is the difference between the two?

A cryptocurrency exchange is an online platform where digital currencies are traded or exchanged for other digital currencies or even fiat currencies. Both types of exchange are similar in the way that they both facilitate the buying and selling of cryptocurrencies but both suffer from different complications as well as enjoying different benefits.

What is a centralised exchange?

A centralised exchange is one of the most common types of crypto exchange and it allows the user to buy and sell cryptocurrencies with fiat currencies, as well as buying cryptocurrencies with other cryptocurrencies. The majority of these exchanges accepts payments via debit or credit card, as well as bank and wire transfer.

When we call it a centralised exchange, we mean that third parties assist with conducting the transactions that take place on it, whilst all daily operations are supervised by an organisation. They are similar in type to a traditional stock exchanges but deal with crypto and fiat rather than stocks.

Benefits of a centralised exchange include the simplicity of use as well as extreme accessibility. In case if something goes wrong on the exchange, the fact that it is operated by an organisation means that it takes all the responsibility. Another benefit is the high level of trading volume which means that these type of exchanges are not considered as volatile.

Disadvantages include the fact that they are susceptible to hackers because when crypto is bought on a centralised exchange, the users don’t actually own the coins and therefore are not in possession of the funds private keys. As in February of this year, there have been more than 30 crypto exchange hacks that have resulted in a loss of almost a million of Bitcoins.

What is a decentralised exchange?

A decentralised exchange doesn’t rely on a third party to hold the cryptocurrencies which makes it much quicker to conduct a transaction than on a centralised one. Those that opt for a decentralised exchange, trade their assets in a P2P manner automatically.

This type of exchange has seen a big increase in popularity over the last six months due to the fact that they are less susceptible to hackers. Another bonus is that these exchanges do not require any personal information to conduct a trade meaning data-hungry hackers are less likely to strike.

But of course, there are some limitations. For example, they tend to be more difficult and complicated to use than centralised exchanges, particularly for beginners. Decentralised exchanges also have a limited level of functionality when compared to their centralised counterparts, as well as a lower trading volume.

E&S Group is a leading corporate & law firm offering various services with regards to ICOs. Feel free to contact us directly on +356 20103020 or by email at [email protected] to find out how E&S can help you in ‘making things happen’.

For more information click the link.

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A Half Year Report on virtual currencies in 2018

Categories Blockchain, Cryptocurrency, Regulatory, ICOs, Malta, ICO Legal Service, Law, The Blockchain Island, DLT Regulation, Smart Contracts, E&S Group, Technology, Trading, Cryptocurrency Exchange, Tokenomics, Regulation, Tokens, Binance, Utility Tokens, Security Tokens, DLT

A Half Year Report on virtual currencies in 2018

2018 has been an interesting year for crypto with colossal crashes, much-needed market adjustments, and of course, the emergence of a large number of new tokens and cryptocurrencies. Along with significant advances in regulation and legal frameworks that seek to understand, support, and protect those stakeholders operating within this new industry, there is no doubt that the rest of 2018 is going to be just as, if not more exciting as the previous six months.

Mid-January Market Crash

If you were holding Bitcoin in December 2017, you probably couldn’t believe your luck. As the value of a single Bitcoin headed towards $20k, a mad rush to invest ensued and predictions on where the price may head reached stratospheric new heights. Then on January 16th 2018, Bitcoin investors woke up to a nasty shock. The value of their coins had dropped by 15% and this news had a knock-on effect on the value of all other altcoins, causing a huge slump in the value of the market. The excitement and hype that had surrounded cryptocurrencies just a few days before, disappeared just like the profits of those who invested in it.

As prices continued to fall, investors started to panic. They started selling their coins in an effort to nip their losses in the bud and the moniker “Black Tuesday” was coined. Some crypto-coins saw losses of up to 40% and it seemed like many naysayers predictions were coming true and that the bubble had finally burst. Some voices remained steadfastly optimistic however and maintained that price slumps were common in all markets, not just the crypto one. After such an exponential increase in value, it was naturally expected that the market would correct itself because after every meteoric rise comes to a reverse-swing of the pendulum that needs to be ridden out – January was exactly that. As prices are now more stable it is hoped that they will increase at a steady rate, signalling a new era of market stability and maturity.

TRON Makes a Name for Itself

Since January of this year, TRON has experienced a steady increase in value. Despite a few issues, mainly caused by the crypto price-crash, it seemed to have found its niche which suggests a bright future for both the platform and its cryptocurrency.

TRON is a decentralised, blockchain-based, protocol project that functions as a content distribution platform for the digital entertainment industry. Whilst the platform itself is yet to go live the TRX coin is gaining significant traction.

Created by Justin Sun in 2017, the concept behind it is to establish a global network of free entertainment content which allows creators to publish, store and distribute their own content without the need for an intermediary. Whilst its value per coin was only $0.30 in January, it is expected to hit $1 by the end of 2018.

Its main selling point is that it is not just another cryptocurrency. It has a platform that solves a problem and offers functionality to a range of users and publishers. Over the last year, TRON has increased in value by 1.39% making it one of the top crypto coins in terms of growth, making it one to keep your eye on as we progress through 2018.

The Unexpected Rise of Litecoin

Many have dismissed Litecoin as “the poor man’s Bitcoin” but despite this, its popularity has increased drastically over the past few months. It was initially launched via an open-source client on GitHub in 2011, a sort of spin-off of the original Bitcoin Core client, but it offered much lower block generation times, a higher number of coins, a modified GUI, and a different hashing algorithm.

In 2013 it experienced a big surge in value and by May 2017 it had secured a spot as one of the Top 5 global cryptocurrencies in terms of its market cap. Now accepted by a wide range of online retailers, its adoption is increasing and many are seeing it as a better alternative to the rather bloated and over-inflated Bitcoin.

12 and even 6 months ago, blockchain was not something that was widely understood but as we progress to the end of 2018, it is expected that we will see a dramatic uptake of blockchain integration across a diverse range of sectors. Following in the footsteps of IBM, Microsoft, and Maersk, even smaller SMEs are likely to be interested in harnessing its potential.

Litecoin is predicted to peak at a value of over $600 per coin by the end of 2018 and there is no doubt that it has huge potential. Negating many of the issues that are faced by Bitcoin users, it presents a practical, simplified and completely viable alternative to the crypto-giant.

Malta Takes the Lead in Industry Regulation

In the last 12 months, it has seen cryptocurrency, blockchain and ICOs negate a minefield of regulatory and legal issues. Problems around its classification, AML and KYC regulations, and the reluctance of many banking institutions to support the burgeoning technology has resulted in many setbacks for the crypto world but that is all set to change.

The island of Malta has long been a hub for digital technologies and it is well known for its iGaming, Finserv and Fintech industries that when combined, account for around half of the country`s GDP. Then, in March 2018 the Government announced the drafting of three new bills that would seek to provide legal and regulatory clarification on DLT, crypto, and ICOs. These bills are the Virtual Financial Assets Bill which would provide a regulatory framework for ICOs and virtual currencies, the Malta Digital Innovation Authority Bill and the Technology Arrangements and Services Bill which will oversee companies that operate within the market, as well as providing a much-needed guidance and clarification.

This makes Malta the first jurisdiction in the EU, and the world to create a comprehensive legal framework that not only protects all stakeholders including operators and investors, but also supports the growth and development of the industry. By ensuring explicit legal clarification as well as adherence to AML and KYC regulations. This means that the industry will receive a much-needed confidence boost and will help to increase the  level of public trust in this new market sector.

Binance Relocates to Malta

As a result of Malta’s decision to support cryptocurrencies and related industries, an exciting announcement came just a few days later. Binance is the largest cryptocurrency exchange in the world and commands 10% of the global trading volume as well as having a market capitalistion of $1.3billion at the time of writing. Its founder Changpeng Zhao started Binance in July 2017 and in just a couple of short months, it has grown to be the market leader.

Following the introduction of restrictive laws in Japan and China regarding cryptocurrencies and exchanges, Binance was on the look out for a more welcoming and flexible home. On March 23rd, Binance announced their move to Malta and the crypto community rejoiced. Such a vote of confidence is a big deal for the small EU country and it is expected that such a move will encourage many other companies and startups to follow suit.

The Blockchain Boom

This time last year, most people had heard of the blockchain but only in the context of it being intrinsically linked to Bitcoin. Now, the technology has broken away from just monetary uses and has earned a lot of attention for its potential. In the last few months, more and more use cases have come to prominence at blockchain has found uses in industries such as logistics, healthcare, politics, real estate, and even crypto-powered beer vending machines. It has also been tipped to completely revolutionize the way we vote, as well as provide microloans to SMEs in developing countries and to solve the energy crisis in third world countries.

 

E&S Group is a leading corporate & law firm offering various services with regards to ICOs. Feel free to contact us directly on +356 20103020 or by email at [email protected] to find out how E&S can help you in ‘making things happen’.

For more information click the link.

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Understanding the potential of new technology for your business

Categories Blockchain, Cryptocurrency, Technology, Cryptocurrency Exchange, Tokens, DLT

Understanding the potential of new technology for your business

Blockchain technology offers a wide range of benefits to businesses and individuals that operate within the public and private sector. The fact that blockchain has the power to significantly simplify and streamline a number of processes, whilst ensuring transparency and authenticity at every step, is proving to be an irresistible allure for many.

Over the last few years, blockchain technology has shifted from being something that was only understood by programmers and developers, to something that is being adopted throughout offices and businesses around the world. What we are seeing now is a digital revolution akin to the birth of the internet in the early 90s. This new technology is set to completely overhaul the way the world works, in a number of different ways.

The blockchain is a system of distributed ledgers that aim to increase levels of transparency via decentralisation. But how can this exciting and disruptive technology be incorporated into the day-to-day running of a business?

The blockchain keeps a completely incorruptible list of data transactions and records in completely chronological order. Once inputted on the blockchain, the record cannot be deleted, edited, or amended in any way, meaning that they are protected from tampering or fraud. Each entry is linked to the previous and subsequent blocks via a cryptographically secure algorithm which means, once data has been entered and validated, it cannot be altered.

Prevention of data siloing

Whilst this is great for financial transactions in institutions, it also has a big benefit for smaller businesses. One issue that presents itself in businesses of any size is data siloing. This is where each party in a particular transaction hold their own version of the data, separated from others resulting in a situation where different data sets about the same topic can be stored within just one organisation.

Increased provenance

The fact that entries on the blockchain are not editable means that using the blockchain can provide previously unseen levels of provenance. This is also very useful in businesses that require surety around where a product or raw materials come from. It is also handy to ascertain which individuals have been involved in the lifecycle of a product, meaning there are greater levels of accountability.

Automated procedures

In addition to these features, the fact that many laborious tasks can now be automated through the use of smart contracts is a huge bonus for businesses of every type. Companies that rely on the execution of contracts, complex logistical processes, or even hiring procedures that require the sign off of multiple parties, can all benefit from implementing blockchain technology. This not only increases transparency but it significantly improves operational efficiency and lowering costs.

Over the next 12 months, we expect to see a big increase in the numbers of small businesses that adopt off the shelf blockchain-based solutions for their business needs.

 

Are you looking for ICO Legal Advice? Click this link to know more.

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ESTS tokens can now be bought and exchanged on the crypto exchange platform LATOKEN!

Categories E&S Group, Cryptocurrency Exchange, Tokens, ESTS Initiative, LATOKEN - Crypto Exchange, ESTS

ESTS tokens can now be bought and exchanged on the crypto exchange platform LATOKEN!

Since July 13th, ESTS Initiative listed its ESTS tokens on the crypto exchange company, LATOKEN. Now investors can easily purchase ESTS tokens through the LATOKEN platform.

 

Who is ESTS Initiative?

ESTS Initiative which stands for E&S Tokenised Services is an ICO which offers Legal, Corporate and Business advisory. This multi-disciplinary firm has over 10 years’ experience in the legal and financial industry. Over the past year, it started to pave its way into the DLT, blockchain and ICO sector. It has already advised over 80 ICOs helping them launch their projects successfully in accordance with Maltese law.

Why choose ESTS?

Since DLT platforms are gaining momentum with more esteemed companies shifting their operations on this decentralised technology, many investors and clients are aware of this technology. Being set on the island of Malta, ESTS follows the set regulations passed by the Maltese parliament. In fact, Malta is being widely dubbed as the ‘Blockchain Island’, many DLT businesses have shifted their operations on this jurisdiction. On July 4th 2018, the Maltese government maintained its progressive stance by successfully passing three regulations.

ESTS became a world’s first firm to tokenise its services to its clients’. Our esteemed clients will benefit from a plethora of services in Corporate, Legal, Accounting, Trusts and ICO Legal services. Through this platform, it will provide a perfect harmony to those who wish to pay in ESTS tokens.

 

What is in it for YOU?

Our services are designed to achieve a good ICO rating and a successful project. Our legal services cover various aspects in relation to an ICO following the Maltese law. Services offered by ESTS are the following:

  1. Review and analysing of white paper from a legal perspective;
  2. Analysing the token designed, checking if it is a utility token or a security token;
  3. Drafting of Private Token placement document/ agreement;
  4. Drafting of Token Offer document/ agreement;
  5. Drafting of T&Cs;
  6. Drafting of Risks of Token acquirer;
  7. Drafting of Private Policy;
  8. Disclaimer for the website;
  9. KYC guidelines.

ESTS also offers Tokenomics services, which is part of our financial advisory services. In order to achieve a perfect token design our team will assist to identify the following:

  1. Token Price;
  2. Token Quality;
  3. Token Distribution;
  4. Soft/Hard Cap.

Last but not least, in order for an ICO to operate in Malta, it has to open up a Maltese company. ESTS Initiative offer this service for ICO to obtain a limited liability company in Malta. During this process, our company provides a full KYC solution to contributors participating in the ICO.

 

Certificate of Excellence

As part of our services, ESTS Initiative offers an ICO Certification of Excellence to ICO promoters who will be launching their ICO projects. This process will be in accordance with due diligence on promoters, legal soundness, financial viability and a full technical audit to ICOs.

 

ESTS Seeding competition

career

A competition will be launched every 6 months to help start-ups to launch their project ICO. Through this competition, ESTS Initiative will be looking for interesting ICO projects that will help will be then voted for and the winning project will receive the lesser of 750,000 ESTS equivalent to USD 2.5 million. ICOs participating in this competition will have to adhere to the T&C that the competition entails.

 

 

 

 

 

Why buy and trade ESTS tokens?

 

Now that you found out what ESTS Initiative is about you can now trade your ESTS tokens on LATOKEN. You not only can buy tokens but can use them for your ICO project that you are about to launch! ESTS token is being traded against Ethereum and LATOKEN currencies.

You should consider to buy and trade ESTS tokens so that you can benefit from our services. Since we have tokenised our services, ESTS services accept ESTS tokens to buy our services offered within the firm.

 

 

 

LATOKEN crypto exchange and how to buy and trade ESTS Tokens

LATOKEN is a rapidly growing crypto exchange which focuses on liquidity for new tokens. This crypto exchange platform has already been listed as CoinMarketCap’s Top 50 by trading volume. Its successes are noted as trading more then 70+ crypto pairs, has more than 70,000 active traders, has a low trading and withdrawal fees and it weekly pairs new trading. LATOKEN enables its users to participate in selected token sales when they are at pre-sale and also crowdsale stages.

ESTS has opened its deposits on the LATOKEN, trading of ESTS tokens will open after.

Buy ESTS Tokens Now!

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Bitbay partners with Neufund to create the first crypto/fiat exchange in Malta

Categories Blockchain, Cryptocurrency, ICOs, Technology, Trading, Cryptocurrency Exchange, Bitcoin, Tokenomics, Tokens, Wallet, Utility Tokens, DLT

Bitbay partners with Neufund to create the first crypto/fiat exchange in Malta

Malta continues to cement its place as a global hub for cryptocurrency and blockchain related technologies.

Berlin-based Neufund and the Polish cryptocurrency exchange Bitbay have teamed up together to create what will be the world’s first cryptocurrency to fiat exchange. The exchange will be based in Malta and will become a member of Neufund continually growing ecosystem of market partners and they also plan to trade equity tokens via Equity Token Offerings. As a result of the partnership with Bitbay, users of the platform will be able to buy, sell, and trade equity tokens with fiat currencies.

$10 trillion by 2020

It is estimated that the security token market will be worth a staggering $10 trillion by 2020 as well as bringing more liquidity to the traditional investments market, including equity instruments.

This most recent development comes soon after the announcement that Neufund has formalised a collaboration with the Malta Stock Exchange and the world’s largest cryptocurrency exchange, Binance. Bitbay is set to be the first trading partner that gives its users the ability to liquidate their equity tokens against fiat currency.

CEO of Neufund, Zoe Adamovicz commented in a statement on the revolutionary aspect of the collaboration:

“This will be the first crypto secondary market trading tokenized securities against fiat currencies. We are very keen to start the partnership with Bitbay since it will offer clients a really easy way to purchase and sell cryptocurrencies using fiat currency. It appears that Bitbay are all set to accept a wide range of payments and withdrawal options including bank transfers, PayPal and other similar methods so the transactions should be quite smooth. Hopefully, this will start bringing cryptocurrencies to the masses and will really kick off the global revolution with Malta on the frontline of it”.

One of Europe’s leading exchanges

Bitbay is one of Europe’s leading cryptocurrency exchanges and allows tradable fiat pairs such as the Euro, Zloty, and the US Dollar.

“Our partnership with Neufund aims to bring security tokens to BitBay’s everyday operations in a fully compliant and regulated way. We are proud to be on the frontline of implementing equity tokens into 24/7 crypto trading systems,” said CEO of Pinewood (the operator of BitBay) Pawel Sobkow.

Earlier this year, Bitbay announced its relocation to Malta following the passing of three bills that seek to regulate blockchain, crypto, and related industries. Whilst the bills are still at the consultation stage, they are expected to enter into force by October 1st 2018.

E&S Group is a leading law firm offering various services with regards to ICOs. Feel free to contact us directly on +356 20103020 or by email at [email protected] to find out how E&S can help you in ‘making things happen’.

For more information click the link.

 

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Virtual Currencies are increasing in value

Categories Blockchain, Cryptocurrency, ICOs, Smart Contracts, Cryptocurrency Exchange, Payments, Bitcoin, Regulation, Ethereum, Ripple, Market, Market Cap

Virtual Currencies are increasing in value

For the first time in two months, the value of Bitcoin has exceeded $8200 and it seems that slowly but surely the value of the world’s most popular cryptocurrency is regaining some of the strength that it had before the spectacular crash of January 2018.

In July, the value spiked rather suddenly and it value started to creep towards the price it reached two months ago at $7502. But what is causing its price to grow? Here are five reasons why?

Facebook and Google relax their rules

When news broke that both Google and Facebook had relaxed their rules around advertising cryptocurrencies and related products on their platforms. Coinbase, one of the largest cryptocurrency exchanges in the world is now allowed to advertise its services on Facebook and Google has now listed the top cryptocurrencies in its exchange rate converted. This newly founded web visibility and a significant vote of confidence from the world’s largest tech giants has undoubtedly had a positive effect on the value of BTC.

The possibility of a BTC ETF

Another big vote of confidence for BTC was the announcement from the Chicago Board Options Exchange that they had sought approval for a Bitcoin ETF. This request from one of the most well-known exchanges comes at the same time as a number of similar requests from other leading big names. Whether or not the application will be approved, remains to be seen but in the meantime, this news is believed to have helped create the surge in value that we are seeing today.

Approval from big institutions

Some of the world’s leading banks such as JP Morgan and Goldman Sachs have started showing more and more interest in cryptocurrencies. At one time, leading figures in the industry were quick to criticise and dismiss the technology, but it appears that the tides have turned. The fact that such prominent names have shown interest in investing in and utilising the technology has been a big boost for the industry as a whole.

Regulatory changes

Following in the footsteps of Malta that recently introduced three new Acts that would support the growth and development of cryptocurrencies, ICOs and blockchain technology, more and more jurisdictions are considering changing their approach. The market has suffered from a lack of regulation or unclear laws which has lead to confusion, abuse, and crippling of cryptocurrencies value. Now the US Chamber of Commerce along with the SEC and CFTC are working on creating a better regulatory environment, crypto is set to thrive.

It’s summer!

The price of BTC seems to surge every summer and 2018 is no exception. Whilst the leap of 2017 was the largest so far, before that we saw considerable upswings during the summer season. So far, the level of growth in 2018 pales in comparison to previous years, we still have August to go and considering points 1-4, we could be in for a pleasant surprise.

If you have invested in Bitcoin or are considering doing so, contact one of our team today to ensure that you are making the best out of your investment and that you are in compliance with all applicable fiscal regulations.

 

Are you looking for ICO Legal Advice? Click this link to know more.

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Changpeng Zhao explains the three keys to virtual currency success

Categories Blockchain, Cryptocurrency, ICOs, Technology, Trading, Cryptocurrency Exchange, Exchanges

Changpeng Zhao explains the three keys to virtual currency success

Just over one year ago, Changpeng Zhao founded a cryptocurrency exchange that just 365 days later would be the biggest crypto exchange in the world. Getting a coin listed on a leading exchange such as Binance is the holy grail of the crypto world, almost guaranteeing success in the market. But how do exchanges such as his decision which make the cut and which do not? Here are three things Zhao looks for before adding it to the platform.

A winning whitepaper

In order to fully understand a project, you need to look at the whitepaper in detail as well as understand it clearly. Zhao and his team will also put significant work into researching the community, the source code on GitHub, as well as reading community reviews.

A good team

Having a strong team is essential to the success of any project, but Zhao is also looking for a team that has history, ability, and experience within the sector. Whilst it can be difficult to predict what way a project will go, having a well-rounded idea of who is behind it can give a very good indication.

A good number of users

You are not going to get listed on Binance if only 10 people are using your product. What is the use in offering trading pairs if there is no volume or demand? Binance will actually check and monitor the number of users and whilst there is no set benchmark, if the project is a good one and a high number of people are involved, your chances of getting listed are high.

Changpeng also was quick to dispel rumours that he charges to list coins on the platform, stating:

“What we do is we don’t negotiate, and we don’t ask for a price. The project team, when they submit an application, they tell us what they want to pay. And you can say zero, which we will accept. And we have listed coins that have said zero. You have to have a good product, a good service. I think our service is ok. To be honest, it’s not perfect. I really want to improve it. But I think in the industry, we’re kind of good compared to others. But I think the other big thing is your ethical behaviour.”

As well as these three key things, Zhao is also careful to only back legitimate projects. Aware that there is a lot of underhand and dubious things going on in the cryptocurrency space, he wants to retain their position as the most ethical and powerful exchange out there. They are careful about who they partner with because whoever he supports, gets catapulted into a popularity of stratospheric proportions.

 

Interested in ICOs Legislation in Malta? Contact us directly on +356 20103020 or by email at [email protected] to find out more.

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MFSA published the ‘Guidance note to the Financial Instrument Test.’

Categories Blockchain, Cryptocurrency, ICOs, Malta, E&S Group, Cryptocurrency Exchange, Tokens, Financial Instrument Test

MFSA published the ‘Guidance note to the Financial Instrument Test.’

 

On Tuesday 24th July, Malta Financial Services Authority (MFSA), published the ‘Guidance note to the Financial Instrument Test’. This report discusses, what the Financial Instrument test entails, with step by step procedures as established by the authority. The Virtual Financial Assets (VFA) Agents need to follow these set of rules to identify which category the ICO in question fall under. The three categories as identified by the VFAA Act are 1) Virtual Tokens, 2) Virtual Financial Assets or 3) Financial Instrument. These rules can be accessed on the authority website which is drafted on an Excel sheet and PDF format.

These issues were further discussed in a conference MFSA organised in the wake of these regulations. The conference was held on Wednesday 25th July, discussing the Financial Instrument Test published by the authority. A lawyer specialising in ICOs from E&S Group attended the conference, to understand what is required by VFA Agents. The conference spoke about various ways on what is expected by the VFA Agent to adhere to when conducting these tests. When the tests are concluded the authority has to have a copy of the results established by the agent.

If you require further information regarding these regulations contact us by sending an email on [email protected] or by phone on +356 2010 3020. We make things happen!

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Malta – at the centre of the Distributed Ledger Technology

Categories Blockchain, Cryptocurrency, ICOs, Malta, Law, DLT Regulation, Smart Contracts, E&S Group, Technology, Cryptocurrency Exchange, Tokens, VFA Act

Malta – at the centre of the Distributed Ledger Technology

In the light of the new blockchain laws presented by the government of Malta, many fintech organisations praised the government’s progressive approach to these set regulations. The Malta Chamber of Commerce, Enterprises and Industry organised an interesting and detailed conference titled; ‘Blockchain: The New Regulatory Framework.’ E&S Group employees attended this conference to understand more about the three laws soon to be in force.

The Parliamentary Secretary for Financial Services, Digital Economy and Innovation, Hon. Silvio Schembri opened up the panel. He spoke about how Malta is becoming a Blockchain Island soon implementing laws that will ensure a safe crypto market on the island. Various influential people coming from various financial sectors spoke about the importance of blockchain technology. The discussion revolved around how the laws will help Malta in the sphere and being a trailblazer in the industry.

Many stakeholders coming from various industries in particular finance, legal, and IT attended the conference. Many interesting points came up during the discussions which brought about how private institutions are reacting to Malta’s DLT shift. In fact, some Maltese banks are welcoming ICOs as their clients. A bank, in particular, AgriBank has started to open up bank accounts to ICO clients. However, they have not started to accept cryptocurrency trading as it is still a bit of a grey area. Strict due diligence procedures also need to be followed by MLRO, making sure that all necessary AML procedures are in place. In addition, an MFSA representative spoke about the Financial Instrument test, VFA agents need to adhere to, presenting their final findings to the authority.

Since the industry is still in its initial stages, AML procedures need to be processed. In fact, the FIAU will have an important role to safeguard Malta’s reputation, seizing fraudulent companies from operating in Malta.

 

Are you looking for the best country to operate your ICO? Is Malta on your list and wish to know more what it offers? Check out the link here or send us an email on [email protected] or by calling us on +356 2010 3020. We make things happen!

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E&S Group participated in a conference organised by Malta Institute of Management.

Categories Blockchain, Cryptocurrency, ICOs, Malta, The Blockchain Island, Smart Contracts, E&S Group, Technology, Cryptocurrency Exchange, Tokenomics, Regulation, Tokens

E&S Group participated in a conference organised by Malta Institute of Management

On the 26th of June, the Malta Institute of Management (MIM), organised a day conference titled; “The MIM Cryptocurrency Considerations for Management Conference”. The conference invited Maltese stakeholders that have a keen interest and are contributing to the blockchain sphere. The main topics discussed focused on cryptocurrencies in relation to businesses, how to avoid fraudsters stealing your cryptos, why tokens need to be regulated, and the Malta Stock Exchange outlook towards ICOs.

During the event, a discussion was organised inviting influential stakeholders from the crypto and blockchain sphere in Malta. Tokenomics expert and E&S Group director, Karl Schranz took part in a panel discussion titled: “Cryptocurrencies and Blockchain”. They discussed if cryptocurrencies and blockchain should be regarded as one or two separate entities.

The topics which came out from this discussion were notably about the new laws that Malta will pass in the coming weeks, cementing its way to become “The Blockchain Island”.

If you require further information regarding Malta’s laws in DLT, ICOs and Blockchain technology, contact us by sending us an email on [email protected] or by telephone on +356 2010 3020

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