Category: The Blockchain Island

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Maltese Prime Minister Welcomes Switzerland as a Competing Blockchain Hub

Categories Blockchain, Cryptocurrency, Malta, European Commission, The Blockchain Island, DLT Regulation, Blockchain Leadership Summit

Maltese Prime Minister Welcomes Switzerland as a Competing Blockchain Hub

“Regulation gives certainty to investors, give certainty to consumers and it provides the level playing field that the industry needs”, – words spoken by the Prime Minister of Malta Joseph Muscat during his interview with CNN Money during the Blockchain Leadership Summit in Switzerland, in which E&S Group team members participated at.

The Maltese Prime Minister welcomes Switzerland as a competing crypto hub and encourages other jurisdiction to step into the industry in order to create a EU Blockchain framework. Among the roadblocks for mass blockchain adoption he mentions the misunderstanding of the blockchain concept, initial scalability, environmental problems along with other topics such as; e-learning, AML European rules, KYC procedure and the virtual euro as a currency of the future.

“We are moving slowly but steady”, – the Prime Minister comments’ when questioned about the legislation development in Malta.

Watch the full interview via link – https://www.cnnmoney.ch/shows/blockchain/videos/malta-pm-joseph-muscat-european-union-blockchain-framework 

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An intro to Malta’s Innovative Technologies Regulatory Framework

Categories Blockchain, Cryptocurrency, ICOs, Malta, The Blockchain Island, DLT Regulation, VFA Act, DLT

An intro to Malta’s Innovative Technologies Regulatory Framework

November welcomed two new acts which came into force in Malta seeking to regulate the DLT, cryptocurrency and ICO markets. The country has positioned itself as a leading innovator in the regulatory treatment of such industries, with blockchain technology at the forefront of its agenda.

Over the last year, a collaborative and consolidated effort has been underway to develop and then enact the new legal framework that comprises of the Virtual Financial Assets Act, the Malta Digital Innovation Authority Act, and the Innovating Technology Arrangements and Services Act. The first of its kind, not just in Malta but globally, it will hopefully not only cement Malta’s position as a jurisdiction of choice for those looking to operate in these spheres, basing their own legal frameworks on these three acts.

A step forward

This is an important step forward in the global industry and is sure to bring technologists and innovators to the country in order for them to escape from the regulatory grey-area that exists in the crypto ecosystem. Based on sound legal and regulatory principles, the acts are set to promote legal certainty, drive consumer adoption, and instil confidence in the market.

In order for the industry to truly succeed, legal certainty needs to be attained in respect of what the applicable fundamental legal tenets of governance, ownership, and liability are – something that is being hotly debated in other jurisdictions.

Comprehensive legislation

The DLT and blockchain framework takes steps to combine business, legal, and technological aspects together through a range of regulatory tools including VFA Agents, System Auditors and Subject Matter Experts. There are also measures in place that relate to whitepapers, smart contracts, cybersecurity, and blueprints.

With the march of innovation and technology seeming totally unstoppable, Malta’s willingness to embrace and regulate them has put the country in pole-position on the global stage. By enacting these flexible but stringent rules, the sector will grow and develop whilst retaining its integrity. Furthermore, Malta’s reputation as a jurisdiction of choice for blockchain and crypto-related businesses will go from strength to strength.

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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Malta Blockchain Summit beats 8,500 attendees and the E&S Group Team was there!

Categories Blockchain, Cryptocurrency, ICOs, Malta, ICO Legal Service, The Blockchain Island, E&S Group, Malta Blockchain Summit, Services

Malta Blockchain Summit beats 8,500 attendees and the E&S Group Team was there!

The Malta Blockchain Summit was highly productive and full of new discoveries. It is estimated that around 8,500 people attended the event’s conferences, hackathons and discussions which took place at the Summit. The exhibitors who participated in the event met up with prospective clients interested in their services.

More than 400 companies and projects presented their services and digital solutions at their stands. The first day of Summit was a success for the E&S Group team, as the stand was constantly buzzing with people interested in the services offered and the activities going on at our stand. Our professionals, in legal, accounting, taxation, corporate and ICOs exchanged business cards, gave  hundreds of brief consultations and took multiple pictures in our photo-booth to remember the event.

The summit featured some of the greatest speakers and debates that have hit the industry this year. Notable speakers that were present at the Malta Blockchain Summit were: the Prime Minister of Malta, Joseph Muscat, who gave an open speech; a discussion delivered from an Artificial Intelligence (AI) influencer Sophia; a keynote speech delivered by a crypto evangelist, John McAfee. All keynote speakers attracted an enormous amount of attendees and delegates.

The first day of the event was devoted to the Regulatory, Marketing and Investment conferences. Whilst on the second day the summit focused more on The Development & Technology and Tokenomics & Cryptos Conferences. Karl Schranz, E&S Group director participated in a panel discussion titled: “Post ICO: with Millions in the Bank, What’s Next?” which spoke about success stories from post-ICOs companies.

To view some photos taken during the MBS and during our Cocktail & Champagne closing party please click on the links below:

MBS Stand

Cocktail & Champagne Closing Party by E&S Group

 

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It’s official, Malta has welcomed the VFAA and ITAS today!

Categories Blockchain, Malta, The Blockchain Island, DLT Regulation, E&S Group, Technology, Regulation, VFA Act, DLT

It’s official, Malta has welcomed the VFAA and ITAS today!

The long wait is over, Malta has set to become a world leader and a pioneer in regulating the world of Distributed Ledger Technology (DLT), Initial Coin Offering (ICOs), crypto exchanges, Artificial Intelligence (AI) and FinTech. Its progressive laws have already made waves around the world with many companies transferring their offices to the island.

This phenomenon has started to provide many opportunities within the industry, so that many Maltese companies have also started to delve into this sector, creating blockchain platforms to sell to companies, launching ICOs and investing in cryptocurrencies. Through this technological ecosystem, many industries got involved in this new sector of digital economy.

Today 1st November, the Maltese government has successfully enacted the two remaining bills to secure the DLT journey on the island. These laws are the Virtual Financial Assets Act, and the Innovation Technology Arrangements and Services Act respectively. While on the 5th of October during the Delta Summit, the Hon. Silvio Schembri launched the Malta Digital Innovation Authority Act.

This rollercoaster ride started in March 2018, when the Junior Minister for Financial Services, Digital Economy and Innovation declared that the Maltese government was looking into ways to regulate the DLT space. A public consultation was organised inviting and appointing prominent key stakeholders in the industry, aiding the government to draft the three laws for further clarifications. E&S Group along with other legal companies participated in this consultation pushing toward a friendly, clear and well-regulated digital industry.

On the 24th of April 2018, Hon. Silvio Schembri presented the 1st reading of the 3 bills in parliament for further amendments. The outcome was successful, as both sides of the house approved and supported this new legislation.

The Virtual Financial Assets Act was published on the 22nd of May 2018. This Act brought further clarifications as to where Malta is set to move with its regulations of ICOs, crypto exchanges and how the appointed authority has to act in order to help regulate this sphere.

During the launching of the Delta Summit on May 22nd, the Maltese Parliament published the three final DLT laws online, indicating what is expected to be regulated. This brought about a lot of noise around the world. Many crypto exchange companies started to move their offices to Malta. Moreover, the Maltese public transport took a stance to partner with Omnitude, a blockchain company to start a partnership agreement to develop a blockchain-based middleware technology for the Malta Public Transport Service.

The Maltese government unanimously passed the third reading of the 3 DLT regulations on the 4th of July. On that same day, the MFSA published their consultation paper to regulate the Virtual Financial Assets Act (VFAA). These laws caused interest from many legal firms wanting to know more on how to help their clients pass their regulating test and become licensed to operate in Malta. The MFSA created the Virtual Financial Agent as presented in the VFA law. All licensed agents are required to assist ICOs and crypto exchanges to become licensed by the authority.

Through this wave of clear DLT legislation technology, Maltese companies such as E&S Group have found a perfect opportunity to do something different. In March 2018, E&S Group became the first legal and corporate firm to tokenise its services. This gave clients the opportunity to pay for legal and corporate services with ESTS tokens, created by E&S Group.

Malta has taken a big leap of faith in the industry becoming the first to provide friendly yet well-structured laws to regulate the technology. This will provide a better opportunity for enterprises to trust in the “Blockchain Island”, thus becoming a hub for ICOs, Blockchain, Fintech and other innovative economy sectors.

If you would like to know more about the benefits Maltese legislation offers in the sector of digital economy, please contact us on [email protected]. Our professional and dedicated team will help you better understand the Blockchain industry in Malta. E&S Group will ‘make things happen.’

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Visit stand 76 at the Malta Blockchain Summit

Categories Blockchain, ICOs, Malta, The Blockchain Island, E&S Group, Technology, Conference, Malta Blockchain Summit

Visit stand 76 at the Malta Blockchain Summit

The next big Blockchain event is starting this week. The Malta Blockchain Summit is welcoming numerous companies offering or operating on the blockchain, ICOs and cryptocurrency industry to showcase their products and services while inviting important speakers to refer to the tendencies happening in this growing sector. So far, there will be 418 companies exhibiting their services to the DLT-professionals, enterprises and general public involved in this space.

E&S Group team is taking part in this summit, where our professionals representing different company`s departments will be speaking with prospective clients and partners about our services offered. The stand is located at the EXPO Floor, next to the Stand number 76 Gold. A brief highlight of what you will find at our stand is the following: we will be showcasing our top clients and you will be able to meet both them and potentials. Our directors will also be attending the summit and present at the E&S Group stand to guide prospective clientele through our corporate and legal services. Merchandise gifts will be also distributed to those visiting our stand.

ESTS tokens will be also given out during the Malta Blockchain Summit. On Friday afternoon, there will be a draw for those people who have signed up to our services, and a winner can get 500,000 ESTS tokens. ESTS tokens are utility and can be exchanged on the legal services and consultancy the E&S Group provides.

Come and visit us this Thursday and Friday at the Blockchain Summit where you will get to know who we are; win fantastic prizes, and get on board with us on a fantastic journey of success. E&S Group will “make things happen”. Send us an email on [email protected] to make an appointment.

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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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Blockchain island to welcome Waves

Categories Blockchain, Cryptocurrency, Malta, The Blockchain Island, DLT Regulation, E&S Group, Regulation, Waves

Blockchain Island to Welcome Waves

Waves, a popular decentralized blockchain application, is currently in talks to relocate all or some of its operations to the island of Malta.

This week CEO of Waves, Sasha Ivanov met with the Maltese Prime Minister, Joseph Muscat to discuss the accreditation required to operate within the country. Cooperation in terms of land registry, voting, healthcare and other sectors, as well as various proposals to use Waves as a platform for the tokenisation of financial instruments, was also discussed.

In a statement released by Waves, the meeting was described as “encouraging”. The statement added:

“We are interested in this accreditation and are ready to start working with Malta’s legal experts to bring our ready-to-use blockchain solutions here.”

Junior Finance Minister, Silvio Schembri added that there was a chance that the Maltese government would reach an agreement with the Russian company in the coming weeks. Good for Waves, the Russian state-owned manufacturing conglomerate Rostec has agreed to work with Waves on the development and implementation of the Waves platform for the management of data with $2 million being invested into the project.

This week, Waves also announced the launch of a new protocol that would allow smart contracts to run over the Waves main-net.

Over the last few months, Malta has seen an incredible influx of big-name cryptocurrency related businesses relocation to Malta. Binance, OKEx, BitBay, and ZB.com have all announced either a full relocation or the opening of operations in the country, now dubbed “blockchain island”.

This current influx of blockchain and crypto related businesses is due to the three acts that are to come into force on the 1st of November 2018 that will seek to regulate and define the burgeoning industry. These new laws will place Malta at the forefront of global regulation for cryptocurrency and related industries, making it something of a pioneer.

If you own or think of starting a blockchain-based business, then Malta should be at the top of your list when it comes to choosing a jurisdiction. To find out more about setting up a business in Malta, and all of the legal and regulatory requirements, please contact a member of our team here. E&S Group is perfectly positioned to help with setting up companies and business structures, providing fiscal and legal advice. Contact us on [email protected]

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Refreshing KSU

Categories Malta, The Blockchain Island, E&S Group, University, Academics, Applications, Education, KSU

Refreshing KSU

E&S Group was participating in the KSU Fresher’s Week organised at the University of Malta, 1-5 of October. There are around 11,500 students, including about 1,000 international students from 92 different countries and 450 visiting overseas students, following full-time or part-time degree and diploma courses in the Maltese University. on the 1st week of October fourteen Faculties, eighteen Institutes, thirteen Centers and three Schools of the campuses in Msida and Valletta opened their doors for the freshers.

The opening ceremony was followed by numerous workshops, quests, games and activities organised by the University’s students communities and partnering organizations, including E&S Group which had its tent welcoming students and graduates. During the 5 days of the event, the company representatives from legal, accounting, corporate and marketing departments were inviting students with a related background to complete the internship with E&S Group. As a result, we got 37 applications from law students, 45 – from economists and accountants, and 35 application forms were filled in by undergraduates studying education, communications, media and design.

Except for spreading the information about its services and career opportunities, the E&S team also organised the competition where the winner is to get the tablet as the main prize. The number of participants reached almost 100! We are comparing top 5 results now to get in touch with the lucky winner as soon as possible, so keep your cell phone on.

E&S Group is growing and will be happy to see young talents among its professionals. If you miss the opportunity to visit our stand, the information about our operating principles, services and the company development can be also found in our brochure left in the following departments: Faculty of Economics, Management & Accountancy (FEMA), Faculty of Information & Communication Technology (ICT), Faculty of Laws, Institute of Digital Games, ICT Building, IT Services, Library, DegreePlus, KSU noticeboard.

 

E&S Group provides a range of services including ICO Legal Services, Corporate Services, iGaming, International Tax Planning, Financial Planning, Tokenomics, and more. If you are a student willing to work in one of these fields in the future, be sure to get in contact!

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Real Estate Agents in Malta to Use Blockchain to Share Property Market Data

Categories Blockchain, Malta, The Blockchain Island, Data, Real Estate, Property

Real Estate Agents in Malta to Use Blockchain to Share Property Market Data

 

Some of the leading real estate agents in Malta have announced plans to use a blockchain-based platform to share information and data that related to the local property market.

Ledger Projects is a Maltese company that has also announced an application that will allow notaries to record promise-of-sale agreements on the blockchain, after they have been signed. This platform will allow local notaries to be informed in real-time when a property has been sold, thus removing any possibility of human error.

The new platform will be supported by Exonum and will be built by one of the world’s largest blockchain infrastructure providers, Bitfury.

“Our Distributed Ledger Technology platform will make it possible for stakeholders to have accurate real time information about the industry for the first time ever within a blockchain environment that is secure, distributed and immutable,” Ledger Projects’ directors Anthony Mamo and David Schranz said. “Eventually the data collected within the system may also assist other stakeholders to understand emerging trends and to enable these to pre-empt infrastructural requirements.”

One of the real estate agencies that has signed up to use the new platform believes that the ability to collect and share information will be of great use to the property industry on the island. “The blockchain technology and its applications are moving forward at a fast pace and we are very excited to be getting involved at this early stage,” he said.

As Malta’s property industry continues to boom, it is attracting a lot of international attention and investment. By implementing operational services over blockchain platforms, Malta becomes one of the first countries to do so, thus offering a significant competitive edge. Blockchain has offered many possible use cases to the real estate market – from the use of smart contracts in the purchasing process, to the storing of contracts and deeds in a secure and immutable manner.

 

To find out more about the implementation of DLT technology into your business operations, or how to create your own blockchain-based solution, contact us today on +356 20103020 or by email at [email protected].

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The KYC Process for ICO Investors

Categories Blockchain, Cryptocurrency, Regulatory, ICOs, Malta, The Blockchain Island, Know Your Customer, Anti Money Laundering

The KYC Process for ICO Investors

As ICOs have gained popularity across the world, so are they coming under the watchful eyes of regulatory bodies and authorities now. Whilst many jurisdictions are not particularly clear on where they stand when it comes to ICOs, Know Your Customer (KYC) is a globally understood concept. Issuers of ICOs want to know who is investing in their project and investors want to know who they are dealing with – legitimate, trustworthy, and credible partnership.

But what is KYC and why do ICOs need it?

What is KYC?

KYC is an abbreviation for “Know Your Customer” and it refers to the process of a business or commercial entity, verifying the identity of its clients. It also helps to ascertain any risks of illegal intentions such as money laundering or the financing of terrorism.

By gathering KYC documents such as government-issued photographic ID, proof of address, and information on the source of any relevant funds, the company can establish the authenticity of an individual’s identity – something that is essential when dealing with money, assets, or other financial services. It is also important to know whether an investor or individual is a Politically Exposed person, a criminal, or someone that may pose a risk to the integrity of the business.

The undertaking of KYC is mandatory for many processes such as opening a bank account, forming a company, becoming a director in an enterprise, or even procuring the services of a lawyer or accountant. It is also becoming more prevalent in the world of cryptocurrency and ICOs as authorities and governments strive to regulate and legitimise the flourishing industry.

Why the world of finance needs KYC

The reason why KYC is needed in the world of finance is obvious – because many misbehaving actors attempt to use the financial system for nefarious activities. These can include setting up fraudulent structures, dodging tax, money laundering, proceeds of crime, facilitating bribery, or funding terrorist organisations.

The United Nations Office on Drugs and Crime estimates that around 5% of the global GDP is laundered each year, which translates to billions of euros, just through the European Union member states alone. When reputable businesses get inadvertently involved in such activities, the outcome can be devastating. Not only can they lose money and incur hefty penalties, but they risk irreparable reputational damage and even the closure of their business. As bad actors become more and more sophisticated in the way in which they circumvent KYC and AML laws, businesses have to be more dedicated in the way that they adhere to applicable regulations.

In the digital world, one of the fastest growing sectors, the use of KYC is even more important. Using the internet and cryptocurrency allows users a degree of customers anonymity which means that it is open to abuse. By ensuring that KYC is upheld, those operating in the cryptocurrency, blockchain, and ICO sector can enjoy a greater level of security.

KYC in Malta

Malta has recently introduced three new Bills that will regulate cryptocurrency, blockchain, and ICOs within the country. As well as these Malta-specific laws, businesses operating in and from the country must adhere to the EU 4th Anti Money Laundering Directive. It is also worth noting that the EU 5th Anti Money Laundering Directive is due to be implemented not later than January 2020, and it will provide more depth requirements for issuers of ICOs to satisfy.

Provisions in the new laws have put in place strict requirements that both ICO providers and investors must adhere to. Complying with such requirements offers many advantages including legitimacy, confidence and transparency. It will also allow ICO issuers to reach a wider global audience as well as to increase the number of jurisdictions in which the ICO offering can take place. Furthermore, many cryptocurrency exchanges are starting to refuse to list tokens or coins that are not compliant with AML and KYC regulations.

At E&S Group, we have the knowledge and the experience to help you create the applicable KYC processes that your ICO or startup needs. We have a full understanding of both local, EU and international laws and requirements in these areas and we can assist in advising and creating policies that will ensure full compliance with the law. Do not risk the integrity of your business and reputation, make sure you know who you are dealing with and operate on the right side of the law, at all times. Contact us today by sending us an email on [email protected] to find out more.

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