Category: The Blockchain Island

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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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CryptoSouk has launched its Pre-Token Sale – Your Gateway to the Crypto World.

Categories Blockchain, Cryptocurrency, ICOs, Malta, The Blockchain Island, E&S Group, Technology, Trading, Cryptocurrency Exchange, New ICO - Crypto Souk

CryptoSouk has launched its Pre-Token Sale – Your Gateway to the Crypto World.

E&S GROUP IS PLEASED TO ANNOUNCE THAT ITS CLIENT CRYPTOSOUK HAS LAUNCHED ITS PRE-TOKEN SALE.

 

CryptoSouk is dedicated to making digital currency trading accessible, fast and totally secure. Their CryptoSouk platform aims to make digital currency trading accessible to everyone and for traders of every skill level. CryptoSouk will execute quick trading, fair pricing, world-class customer service, endless improvement and limitless creativity. CryptoSouk are in their initial stages to provide their token sale to their clients, launching their token called, Souk.

E&S Group is pleased to be advising and supporting this innovative project, assisting traders to collect their digital assets through the CryptoSouk platform. To learn more about CryptoSouk, please visit their website: https://cryptosouk.io/en/ico

 

Planning an ICO or simply want more information on ICOs, Blockchain or Crypto? Click here to read more about ICOs or contact us on [email protected].

 

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Dr Christian Ellul interviewed by Lawyers Monthly Magazine

Categories Economy, Blockchain, Cryptocurrency, Malta, The Blockchain Island, E&S Group, Technology, Interview

Dr Christian Ellul interviewed by Lawyers Monthly Magazine

The August edition of “Lawyers Monthly” magazine features an interview with E&S Group director, Dr Christian Ellul. During the interview, various topics were discussed most of which centered around the blockchain, cryptocurrencies, taxation and regulations passed by the European Parliament and Malta.

Although many regulations are being passed in different countries around the world, most particularly, Malta, not every aspect of the industry is being directly regulated. In fact, cryptocurrencies do not have “specific tax laws, regulations or guidelines”, hence “the general principles of taxation would need to be applied” stated Dr Christian Ellul.

He stated that “the current volatility of cryptocurrencies makes them impractical substitutes for the more stable FIAT currencies.”

However, “the moment people will lose faith in a FIAT currency, usually due to the questionable actions of central banks, they can fall back onto these decentralised currencies, which by their very nature, cannot be controlled or influenced by a central authority.”

If you would like to continue reading the interview please click here.

For further information regarding the services offered by E&S Group, please visit this page. Contact us directly on +356 20103020 or by email at [email protected] to find out more.

 

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First two-way decentralised currency ATM installed in Malta

Categories Blockchain, Malta, The Blockchain Island, Bitcoin, Tokens, Wallet, Utility Tokens, Security Tokens

First two-way decentralised currency ATM installed in Malta

Each day, a new development seems to just further cement Malta’s position as the ‘Blockchain Island’.

In an announcement by, Moon Zebra, an ATM firm that allows its users to buy and sell cryptocurrencies using fiat currency, installed the new machine at their Malta office. Through moon Zebra’s collaboration with local Bitcoin maximalist and the co-founder for Bitcoin Club Malta, Leon Siegmund the purpose of the ATM is to promote a greater public interest in crypto amongst the general public.

Siegmund stated:

“When I moved to Malta two years ago, there was not much happening regarding Bitcoin and decentralised ledger technology. But within just 2 years, and thanks to the collaborative effort of many individuals, something very special has happened…and after much blood, sweat and tears, we are happy to launch.”

The new cryptocurrency ATM will give users the ability to buy, sell, deposit, and withdraw cryptocurrency in the same way that a traditional ATM works. Customers can deposit fiat currency into the ATM, enter their wallets public key and have the cryptocurrency of their choice sent instantly.

“Users can also convert crypto back into fiat with the two-way ATM. It also gives people the ability to bypass exchanges and – on some levels- crypto ATMs could solve the issue of exchanges being centralised.”

At first, the ATM will only support Bitcoin and fiat currencies, but in the future, other cryptocurrencies will become available.

The concept of cryptocurrency ATMs is not exclusive to Malta as other sites have been popping up over the USA and Europe during the last few months. It is, however, the first of its type in Malta and it is hoped it is a sign of greater public acceptance and adoption of cryptocurrencies.

If you are looking to set up a cryptocurrency business in Malta, our team of professionals at E&S are on hand to assist you. Visit our ICO Legal Services we offer, or contact us by sending us an email  at [email protected]

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LifeTask token offer is now live!

Categories Blockchain, ICOs, The Blockchain Island, E&S Group, Technology, Tokens, New ICO - LifeTask, Utility Tokens, Startups

LifeTask token offer is now live!

E&S Group is pleased to announce that LifeTask token offer went live!

Today, LifeTask launched its token offer. The aim of this initiative is to become the first decentralised competence platform for a talent-driven job market.

By means of AI (Artificial Intelligence), LifeTask created a P2P platform to help employers to find their suitable candidate and employees to find their perfect job.

E&S Group is pleased to be advising LifeTask, aiding to make their project a reality!

If you would like to acquire LifeTask tokens please visit their website on https://www.lifetask.io

If you wish to start off your ICO and don’t know from where to start, contact E&S Group on +356 2010 3020 or by sending an email on [email protected]. You can also visit this link to know more about our services. E&S Group will make things happen!

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Malta announces a delay in the introduction of new gambling regulations

Categories iGaming, Blockchain, Cryptocurrency, Malta, European Commission, The Blockchain Island, E&S Group, European Parliament, Technology, Regulation, Anti Money Laundering, Malta Gaming Authority

Malta announces a delay in the introduction of new gambling regulations

Malta is awaiting the introduction of its new gambling regulations, but news broke on the 28th that these would come a bit later than planned.

The reason for the delay is being cited as comments made by the European Commission and another EU Member State, pushing forward the implementation date to July 16th, and the start date back to August 1st.

The Malta Gaming Authority (MGA) said in a statement:

“Government and the MGA shall be reviewing and taking into account the recommendations made by the European Commission and the Member States.”

According to reports, detailed opinions were forthcoming from Finland, Poland, and the European Lotteries Association- all of which must be duly considered by the Maltese government and the MGA.

The changes to the existing law were proposed back in May 2017 and the new legislation was drafted after an extensive public consultation period with key local and international stakeholders. The new Gaming Act will replace the current rules and it is particularly focussed on licensing and the provision of gambling services. Once it comes into force, it will drastically simplify the licensing system by using just two categories of license- a B2B one and B2C one.

This new act is the first revision of the nations gaming laws since 2004 and as well as simplifying certain areas, it also aims to implement stricter controls and regulations to ensure that the industry is immune from money laundering, terrorist financing and other various financial crimes that are associated with gaming and sports betting.

This news comes alongside the announcement that the Maltese Parliament has approved three acts designed to regulate the cryptocurrency, blockchain, and ICO industries. The Virtual Financial Assets Act, the Malta Digital Innovation Authority Act, and the Innovative Technology Arrangement Act will seek to provide much sought after regulatory clarity, as well as providing support and encouragement for the burgeoning sector.

This is a world first and has put Malta on the map in the world of crypto and blockchain with the small EU state even being dubbed as the “Blockchain Island”.

With these new pieces of legislation for both the iGaming industry and the blockchain and cryptocurrency industry, it places Malta at the forefront of these disruptive and progressive global industries.

E&S Group can help operators within both industries set up their operations in Malta. We can assist with opening a company, applying for applicable licenses, adhering to regulations, and providing tax planning and associated services. To find out more, contact us on +356 2010 3020 or by email on [email protected]

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Binance is backing the world’s first decentralised bank

Categories Blockchain, Cryptocurrency, Malta, Bank, The Blockchain Island, Technology, Cryptocurrency Exchange, Regulation, Tokens, Binance

Binance is backing the world’s first decentralised bank

On July 4th, the Maltese government unanimously passed the 3rd reading of three blockchain regulations. Many blockchain companies saw an opportunity to relocate on the Blockchain island including, Binance.

In a report issued by Bloomberg, stated that Binance is backing a project, to build the first-ever decentralised bank in Malta. They stated that a 5% stake has been invested by both Binance and the Maltese government to make this decentralised, community-owned bank happen.

How will it work?

The name given to this decentralised bank is, Founders Bank. There will be no ownership of the bank, this includes any corporations, persons or entities. The only owners of the bank will be those who purchase a portion of its token-based equity.

The blockchain equity platform, Neufund will take care to fundraise this project.

In a recent speech, Joseph Muscat, Malta’s Prime Minister said that he is very optimistic about the viability of this project. He stated that “The concept sounds confusing right now, I have no doubt that it will form the base of a new economy in the future. Just as we attribute value to pieces of paper, so too will future generations attribute value to electronic storage systems.”

 

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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Malta Bankers Association Chairman gives crypto a big vote of confidence

Categories Blockchain, Cryptocurrency, Malta, Bank, The Blockchain Island, Technology, Cryptocurrency Exchange, Regulation, Tokens, Malta Bankers Association

Malta Bankers Association Chairman gives crypto a big vote of confidence

Marcel Cassar, the new Chairman of the Malta Bankers Association stated this week, that blockchain technology is a “bankers dream”. He also added that he believes cryptocurrencies are here to stay.

It seems that Cassar believes that the banking industry has a duty to keep up to date with the fast-past nature of the digital word, and it should move to embrace new technologies instead of shunning them. He compared the present ecosystem to “rush hour gridlock trapping an F1 car”.

Cassar added; “Going by our experience of technological innovation, a blockchain revolution of business and government could still be years away because many barriers would need to fall in the meantime.”

He also stated that he believes blockchain is a foundational technology that has the power to create new platforms for both economic and social infrastructures.  He also distinguishes between cryptocurrencies and payment technologies; “the currency is the ‘what’ while the payment technology is the ‘how’.”

He then brought up the still unanswered question of how we should be defining cryptocurrencies and seeking to regulate them, adding that he sees them as no short or medium term threat.

“But what it means for banks is that their traditional role as main payment intermediary for funds and currency transmission will become challenged, if not obsolete.”

Whilst Cassar notes that cryptocurrencies can be risky due to their connection to money laundering and of course, their volatility, he still thinks that they are “here to stay”.

Malta has been renamed “The Blockchain Island” due to their welcoming government, their crypto friendly laws, and the set up of several large cryptocurrencies in the country. Exchanges such as Binance, BitBay and OKEx have all announced their intention to relocate to Malta and the government have just enforced three new bills designed to fully regulate the sector.

Just last week, Binance announced that they had managed to open a bank account on the island meaning they would be able to offer crypto to Euro exchange. Cassar commented that whilst it is an area of unknown and unprecedented risk for the banks, this doesn’t mean it isn’t possible.

“We need to be sure of what enhanced risk management and compliance capabilities the banks are putting in place because there are also other important linkages that need to be protected, among others our correspondent banking networks which still see these technologies as new and susceptible to risk of criminal abuse.”

If you would like to get further information on how to set up your ICO and are looking for ICO legal advice in Malta, please follow this link. E&S Group is here to help make your dream a reality!

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Malta – the home of crypto

Categories Blockchain, Cryptocurrency, Malta, ICO Legal Service, The Blockchain Island, DLT Regulation, E&S Group

Malta – the home of crypto

The island of Malta has steadily been building its reputation as a leading jurisdiction for blockchain and cryptocurrency markets. As a result, the Maltese government has positioned itself attracting future blockchain based investment to the island.

Lagarde speaks in favour of cryptocurrencies

Last May, three laws regulating various aspects of the blockchain industry passed through the Maltese parliament. This positive approach towards cryptocurrencies was also met by Christine Lagarde. In a blog post, the head of the International Monetary Fund affirmed the global benefits of cryptocurrencies. She also stated that cryptocurrencies such as Bitcoin could pave the way for fast and inexpensive transactions. Moreover, the blockchain technology could make financial markets safer and more transparent.

Upon the publication of Ms Lagarde’s comments, the price of Bitcoin registered a rise. Although, it is not clear if these gains are directly related.

“Just as a few technologies that emerged from the dot-com era have transformed our lives, the crypto assets that survive could have a significant impact on how we save, invest and pay our bills,” Ms Lagarde wrote in her blog post.

In her blog post, Ms Lagrade repeated comments she made to the Bank of England last year. She had called for a more even-handed approach towards regulation. This would eventually lead towards regulating such currencies, eliminating exploitation of benefits whilst minimising associated risks.

A flexible framework

Malta’s proposed acts that are soon coming to force, are to provide a flexible framework to entrepreneurs. These laws are to provide substantial growth and development to the sector. It also offers protection for who is investing in it.

A further boost for the island was the announcement that the world’s largest cryptocurrency exchange, Binance. This world-renowned company stated that its move to Malta was reached due to its “very progressive [approach] when it comes to crypto and fintech”. Another company Bitbay has also announced its intentions to relocate to Malta after extensive fact-finding on the perfect EU jurisdiction.

The future of money

PM Joseph Muscat has stated that he believes cryptocurrencies are “the inevitable future of money”. Moreover, they will be an integral part of a new economy in the future. In the short term, the move of several established crypto businesses to Malta is set to create hundreds of new jobs. The new set of laws that will be coming into force in due course are set to offer the broadest set of regulations for the industry. The three acts will provide regulatory clarity to brokerages, exchanges, asset managers, and traders amongst others.

 

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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Binance announces it will offer Euro trading pairs this year

Categories Blockchain, Cryptocurrency, Malta, The Blockchain Island, Cryptocurrency Exchange, Tokens, Wallet

Binance announces it will offer Euro trading pairs this year

Binance, the largest cryptocurrency exchange in the word in terms of traded value, has announced that customers will soon be able to convert their digital tokens into fiat currencies such as Euro.

CEO, Zhao Changpeng has also stated that support for other fiat currencies is in the pipeline after the companies relocation to Malta.

Most of the leading cryptocurrency trading platforms only offer crypto to crypto trading which means less regulatory scrutiny but it impacts the ease of customers “cashing out”. Offering one of the world’s leading fiat currencies is a smart move for Binance as it looks to keep up the momentum of its thus-far rapid growth.

Since its inception almost 12 months ago, Binance has made a staggering $150 million in profit during its first quarter with an impressive daily trading average of around $1.45 billion. There are around 9 million active users at present, an increase of around 7 million since January.

Despite the drop in the value of Bitcoin during 2018 and a market value drop of $42 billion due to a hack at a South Korean exchange this weekend, Binance is going from strength to strength.

Zhao added that Binance will soon be receiving its exchange license from Jersey in the Channel Islands and it is also looking at opening ancillary offices there as well as Taiwan.

 

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

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