Vanuatu to Tap Into Malta’s Experience to Create Blockchain and ICO Regulations

The Maltese government has agreed to help Vanuatu in creating regulations for the blockchain industry and initial coin offerings (ICOs) in the Pacific island country, the Vanuatu Daily Post reported on Monday.

Noting the importance of appropriate regulatory frameworks for the nascent sector, Vanuatu’s minister of foreign affairs Ralph Regenvanu has requested assistance from Malta, following the latter’s successful legislation implementation. Regenvanu has also reportedly proposed the formation of a “Commonwealth of Blockchain Islands”.

Malta’s prime minister, Joseph Muscat, has responded favorably to the request and welcomed the suggestion of establishing common blockchain regulatory standards in the islands.

In October 2017, Vanuatu became the first country to officially accept Bitcoin (BTC) payments in exchange for citizenship. James Harris, managing director of the Vanuatu Inform…

This article appeared first on Cryptovest

Like this: Like Loading...