Malta introduces rules for cryptocurrency investment funds

The government of Malta waits for the public response by the offered rules for investment funds which work with digital currencies.

Management of financial service of Malta (MFSA) has published on October 23 the set of rules which will define how professional investment campaigns have to involve in cooperation of interested parties, operate risks and operate itself. The rules which are subject to further changes after the end of the consulting period next month represent the newest steps of the Maltese government on implementation of changes of state policy in the light of innovative technologies.

MSFA has stated that her work can capture a number of types of investment funds, having explained:

"MFSA develops the set of rules for regulation of professional investment funds (PIF) which invest in virtual currencies as the investment purpose. Now MFSA considers a question of whether it is necessary to allow funds of alternative investments and the notified funds of alternative investments to investment into virtual currencies".

The government has stated that it will accept data from potential participants till November 10 then it is expected that it will check results and as appropriate will correct the offered rules.

Eventually, the regulator has told that it approaches a new set of rules from the point of view of protection of investors.

"The main offers presented in this new report of rules are directed to protection of interests of investors and integrity of the financial market in the context of virtual currencies" — it is said in the statement of MFSA.