MALTA – ICOs – THE NEW LEGISLATION (Updated 4th edition)
Initial Coin Offering, known as “ICO”, is a relatively new phenomenon that has quickly become the main player in the Financial Services and Crowdfunding industries, as well as being the key subject of discussion in the Blockchain communities. In essence, it is one of the most advanced methods of raising finance from the public and …
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Security Token Offerings (STOs): The Future of Coin Offerings
The term ICO has been at the epicentre of discussions in the FinTech industry, being the main method of fundraising used by startup companies to develop innovative ideas on the Blockchain technology or other applications using Distributed Ledger Technology (“DLT”).
The Financial Instrument Test
A. INTRODUCTION By enacting the Virtual Financial Assets Act (VFAA), the Maltese Government has regulated the Blockchain / ICO / DLT industry. The law appoints the Malta Financial Services Authority (MFSA) as the designated authority to oversee this business. Since this industry has elements of the Financial Service Regulations (namely MiFID), it is important to …
MALTA – ICOs THE NEW LEGISLATION
A. INTRODUCTION Initial Coin Offering, known as “ICO”, is a relatively new phenomenon that has quickly become the main player in the Financial Services and Crowdfunding industries, as well as being the key subject of discussion in the Blockchain communities. In essence, it is one of the most advanced methods of raising finance from the …
Malta – Virtual Financial Asset Services The New Legislation
A. INTRODUCTION Blockchain technology has revolutionized the way of doing business globally. In fact, similar to Investment Services, a number of ancillary business activities are now connected to the industry, ejecting the Blockchain technology to endless fields of everyday life. Instead of shying away from the technological challenge, the Maltese government has adopted legislation that …
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THE CYPRUS BANKING CRISIS General Court of the European Union Judgments in Cases T-680/13 & T-786/14
On 13 July 2018 the General Court of the European Union ("the Court") issued its judgments on the cases T-680/13 and T-786/14 whereby the claims for compensation based on non-contractual liability launched by several individuals and companies in relation to the Cypriot banking sector claiming damages from the European Union have been rejected.
Listing on the Emerging Companies Market of the Cyprus Stock Exchange
A. INTRODUCTION The Cyprus Stock Exchange provides to Cyprus and international companies a unique opportunity to list their shares or bonds on the Emerging Companies Market, a recognised eurozone unregulated exchange, which provides potential investors with an indication that the company is active and transparent, while the cost of listing is low comparing to the …
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Brief Outline on Cyprus Taxation on Interest Dividends and Profits from the Sale of Titles
A. General The below mentioned comments relate only to companies which are tax residents of Cyprus and refer to the worldwide income these companies may have. Precise reference to relevant provisions of the Income Tax Law or Special Defence Contribution Law, examples and definitions of terms used may be found in our separate extensive reports:-
MALTA – ICOs AND DIGITAL INNOVATION TECHNOLOGY – THE IMMINENT REGULATED ENVIRONMENT
While jurisdictions and legal systems around the world are expressing concern about cryptocurrencies, Malta is promulgating legislation that should give exchange owners and users certainty about the future. The rules are considered to be a one-stop-shop package that will deal with the establishment of a new authority, regulated exchanges and license Initial Coin Offering (ICO) companies and …
Initial Coin Offering (ICO) through Cyprus The Tax & VAT aspect
ICOs have recently exploded and become an increasingly popular method of fundraising for start – ups and other companies with the intention to fund innovative projects based on the Blockchain technology.