The government of Malta is seeking public feedback on proposed rules for investment funds that focus on cryptocurrencies.
The Malta Financial Services Authority (MFSA) has published a proposed rulebook, dated Oct. 23, that would govern how professional investment efforts solicit stakeholders, manage risks and govern themselves. The release, subject to further alteration after the consultation period ends next month, represents the latest step by the Maltese government to implement public policy changes in light of the technology.
In statements, the MSFA said that its work could grow to encompass a range of investment fund types, explaining:
The government said that it would accept input from potential stakeholders through Nov. 10, after it which is expected to audit the results and adjust the proposed rules accordingly.
Ultimately, the regulator said that it was approaching the new ruleset from the perspective of investor protection.
"The main proposals introduced within this new rulebook aim at safeguarding the interest of investors and the integrity of the financial market in the context of virtual currencies," the MFSA said in a statement.
The full proposed rulebook can be found below:
Image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.