Financial Supervisory service Malta (MSFA) Monday published a feedback received from industry participants blockchain previously proposed rules for collective investment schemes, which use cryptocurrency.
About feedback MSFA was asked in October of last year, in an attempt to create proper regulation of the activities of professional investment funds, focusing on the cryptocurrency. The feedback received from representatives of the industry have significantly changed the original concept of Service, making the set of proposed rules in the additional document, which may become part of the existing regulation, as evidenced by a published report
Although the final set of new rules had not yet been issued, the MFSA stated that, based on feedback from the industry, she has updated the previously proposed regulation, to allow investors to invest in crypto-currencies and tokens issued in primary offerings of tokens (ICO).
MFSA also tried to create a mechanism that will help you understand when such investment funds are considered financial instruments and when they may not qualify as such in accordance with the provisions of the European securities and markets authority (ESMA).
Despite the comments of the members of the industry, which said the opposite, MFSA decided to only allow professional investors (for example, those who have at their disposal 750 000) to invest in the cryptocurrency funds.
According to information from the government of Malta, the full set of regulations is not yet finished and will be released later.