Practice Areas > Investment Services, Fintech & Capital Markets > Blockchain & ICOs > ICO Licensing
Overview
Acquiring a Malta ICO licence has never been easier with the enactment of a new bespoke law called the ‘Virtual Financial Assets Act‘ (‘VFA Act’). The VFA Act, among the first in the world of its kind, offers certainty to issuers of Initial Coin Offerings (‘ICOs‘) with respect to the legal recognition of their cryptocurrencies, as well as clarity on matters relating to registration requirements, processes and applicable fees.
Issuing a cryptocurrency in or from Malta through an ICO requires first undertaking a financial instrument test and registering a whitepaper with the MFSA through a VFA Agent. The test will determine whether the features of the particular token enable it to be regulated by Malta ICO licence legislation and classified as a ‘Virtual Financial Asset‘ as provided for by the VFA Act. A licensed VFA Agent is necessary to conduct preparatory work including the drafting and review of applicable whitepapers as well as certifying the ongoing compliance of the relevant ICO.
How we can help
Gonzi & Associates, Advcocates, has extensive experience in this field and is able to provide specialised assistance to your business at all stages of the Malta ICO licence application procedure, including:
- Malta Company incorporation and registration
- Drafting of legal opinions on the legal nature of your cyrptocurrency to determine the applicable legal framework
- Collection & preparation of documentation necessary for submission of an ICO licence (registration) application
- Advising and assisting in the drafting of a whitepaper
- Drafting of ICO offering T&Cs
- Assisting in the engagement of Key Functionaries, including VFA Agent, Systems Auditors, Money Laundering Reporting Officers (MLROs), director/s, auditors, and so on
- Guiding through every stage of the whitepaper registration process
- Providing post-registration follow-up assistance, including advising on applicable annual compliance exercises.