Practice Areas > Investment Services, Fintech & Capital Markets > Blockchain & ICOs
Overview
Gonzi & Associates, Advocates is the main Malta blockchain & crypto licence law firm. Our multidisciplinary team of expert lawyers offers a one stop shop for all your blockchain & crypto licensing needs.
Malta has become one of the first jurisdictions worldwide to set out a complete legal framework seeking to regulate the crypto space, including entities wishing to issue Distributed Ledger Technology (‘DLT‘) based asset as well as associated entities offering a crypto-oriented services, such as crypto wallet service providers, crypto exchanges, and cryptocurrency dealing.
This has been achieved through 3 Acts of Law entitled the Virtual Financial Assets Act (‘VFA Act’), The Malta Digital Innovation Authority Act (‘MDIA Act’) and the the Innovative Technology Arrangements and Service Act (‘ITAS Act’).
How is the crypto framework structured?
- The VFA Act seeks to regulate the Malta blockchain & crypto licence framework, including issuers wishing to issue cryptocurrencies or list cryptocurrencies on a Malta-recognised exchange, as well as associated service provider: such as crypto exchanges, crypto wallet service providers, and persons dealing in cryptocurrencies. This entails carrying out a Financial Instrument Test to ensure that the particular cryptocurrency qualifies as a ‘Virtual Financial Asset’
- The ITAS Act seeks to regulate aspects of various forms of distributed ledger technologies, including blockchain-based technologies such as smart contracts. DLT-based technologies not requiring a licence issued under the VFA Act may still apply for a voluntary certification issued under the ITAS Act.
- The MDIA Act establishes a Digital Innovation Authority, tasked with setting industry-standards expected from DLT-based technologies, and with the approval of key functionaries in the blockchain space such as ‘System Auditors’.
Select your interest
The Process
Specialising
Lawyers
David Gonzi is managing partner of Gonzi & Associates, Advocates and has more than thirteen years experience in the provision of legal advice in the fields of financial services, IT and gaming.
In particular, David has assisted various companies with acquiring Malta licenses for the provision of investment services, financial institutions, online forex/binary options, emoney, payment services, funds, collective investment schemes and remote and land-based gaming.
He has a Masters (MA) in Financial Services from the University of Malta, a Masters in IT and Telecoms Law (LLM) from the University College of London, a Doctorate of Law from the University of Malta and a Diploma in Taxation from the Malta Institute of Taxation.
Education
2013: Diploma in Taxation, Malta Institute of Taxation
2009: M.A. Financial Services, University of Malta
2003: LL.M (IT and Telecommunication Law), University College of London
2002: Doctor of Laws, University of Malta
2001: Diploma of Notary Public, University of Malta
1999: Bachelor of Arts in Legal and Humanistic Studies, University of Malta
Professional Experience
2002 to present: Founder and Partner at Gonzi & Associates, Advocates
2002 - 2005: Malta Communications Authority, Senior Legal Adviser
Professional Memberships
Chamber of Advocates, Malta
Institute of Financial Services Practitioners, Malta
Latest News
‘DAC8’ and Crypto-Assets
On the 17th October 2023, the Council of the European Union adopted the DAC8– Council Directive amending Directive 2011/16/EU on Administrative Cooperation in the field of taxation. Such adoption of…
Read More