Since Launching ICO Regulations in May 2018, Malta has seen dozens of Token Sales based there.


Founder of Emerging.Technology
Staff member
Jul 8, 2018
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Malta is one of many countries around the world to create robust legislation to legally allow for the sale of cryptocurrencies via ICOs.

As of May 2018, the Malta Financial Services Authority created The Virtual Financial Assets Act, 2018 (The VFA Act), which established guidelines for classing cryptocurrencies as Virtual Financial Assets (VFAs), and it encompasses legislation to fully-regulate ICOs under Maltese Law.

This has allowed blockchain projects to work within the guidelines that have been set forth, and since the launch of this regulation in Malta there have a been a number of successful token sales based there.

As we move into 2019 we see new mechanisms for token sales becoming prevalent: Initial Exchange Offerings, or IEOs.

Like ICOs, IEOs are the sale to investors of tokens, but unlike ICOs, IEOs are generally some degree of partnership between the exchange and the project. This generally includes the management of the token sale process by the exchange, along with tokenomic management during and after the sale to ensure provide price protection.

It remains to be seen if IEOs will be explicitly included in the Maltese legislation, or whether some clarification will be provided as to whether IEOs are also implicitly regulated within Malta as well.