Malta has established regulatory frameworks centring around the use of Innovative Technology Arrangements capturing Distributed Ledger Technology platforms, Blockchain technology and AI, with the primary aim of providing transparency and legal certainty. The legislation aims to instil peace of mind and certainty, as society places more trust in innovative technology. Furthermore, this regulatory framework positions Malta at the forefront of technological business opportunities, as it creates a sound platform for innovators.
Malta was the first jurisdiction to
develop a regulatory framework for DLTs.
Malta Digital Innovation Authority Act
The Malta Digital Innovation Authority (MDIA) Act provides for the establishment of the regulator to be known as the MDIA. The MDIA approves Systems Auditors and certifies DLT platforms and smart contracts, which are referred to as technology arrangements.
Innovative Technology Arrangements & Services Act
The Innovative Technology Arrangements and Services (ITAS) Act outlines a regime for the registration of Technology Service Providers, such as DLT platforms, and for the certification of Technology Arrangements such as smart contracts.