The regulation of virtual financial assets as a means of payment under Maltese law

Abstract

Various books focusing on DLT and the regulation thereof were consulted to understand the technology and the challenges it poses towards regulators. This was supported by reference to official reports and working documents of a number of supranational organisations including European Union bodies and the Financial Action Task Force. Finally, open source articles and sources were also consulted to help fill certain gaps in information.

An analysis of a number of legislative acts, as well as proposed acts was conducted to ensure that a meaningful critique of the Maltese legislator’s regulatory framework could be undertaken.

Finally, a high level proposal was put forward suggesting ways to extend the reach of regulation to capture Virtual Financial Assets intended to be used as a means of payment.