It has been assisting many payment and electronic money institutions over the past years. The firm is also involved in a number of crowdfunding initiatives and assists its clients with the use of technology for their processes. More recently, the Fintech and Blockchain team has been focusing more and more on blockchain and cryptocurrencies. In this regard, Malta has recently enacted three revolutionary bills, becoming the first jurisdiction to set-up a robust regulatory framework for this digital innovation, fostering a favourable environment for distributed ledger technology (DLT) platforms and related services. The trident of laws is namely made up of the following:
- The Malta Digital Innovation Authority Act (“MDIA Act”)
- The Virtual Financial Assets Act (“VFAA”)
- The Innovative Technology Arrangements and Service Act (“ITAS”)
GANADO Advocates has been at the forefront of fintech and blockchain developments, working closely with regulatory entities and industry leaders to become fully equipped with legal knowledge in this new sphere. The team has been active within the area from its early days, and has since been assisting clients, local and international, with blockchain based projects and cryptocurrency enquiries.
The firm’s Fintech and Blockchain team assists clients with the:
- Preparation for compliance with the new blockchain and cryptocurrency laws
- Legal and regulatory classification of clients’ cryptoassets including issuance of legal opinions
- Setting up of blockchain oriented companies
- ICO’s and other Virtual Financial Assets
- Setting up of crypto service providers, such as crypto exchanges, crypto brokers and crypto advisors.