Malta Digital Innovation Authority Will Officially Launch At The DELTA Summit
DELTA Summit will serve as the official launch date of the Malta Digital Innovation Authority (MDIA). On the 1st of October, the authority will begin accepting the applications as the laws will become effective from that date.
The regulator will be meeting with potential licensees for the first time at DELTA, and each representative will have the opportunity to commence discussions with the relevant authorities. Delegates will be able to schedule an appointment with the MDIA during the summit.
Interested companies are encouraged to prepare a project outline as the authority will be advising on the regulatory process, it will also be reviewing prospective applications.
The MDIA is one of three main legislative measures that will provide legal certainty in the sphere of Distributed Ledger Technology and virtual assets in Malta. The authority is the first step for those seeking to regulate their business on the Maltese Islands.
The new authority will work similarly to MFSA, and its vital function is certifying the DLT-based platforms. The creation of MDIA will bring to existence accredited surveyors who can verify the information going through the platform. Providing the same legal certainty and trust, while preventing fraud and substantial financial losses
Together with the Innovative Technology Arrangement and Services Act (ITAS), the MDIA will be responsible for overseeing the DLT and virtual assets sector in Malta.
“What we have in Malta is an entire Digital Innovation movement, which is reflected in the name of the new regulator, the Malta Digital Innovation Authority. We have started by regulating DLT, out of which blockchain is a type, but we have a vision to move towards regulating Artificial Intelligence, and IOT.” – Abdalla Kablan
DELTA Summit is the Malta Government Official Blockchain event which will be held between the 3rd and 5th October at the InterContinental Hotel, St Julian’s. For more information, please contact Stefan Balzan at email@example.com.Buy Tickets to DELTA Summit