One of the largest Maltese law firms, E&S Group, will tokenise its services as reported by Blockchain News.
The company will become the first corporate and legal advisory firm worldwide to tokenise its services.
E&S Group has been heavily involved in the cryptocurrency space and participated in over 20 Initial Coin Offerings (ICOs) by overseeing their launch from the legal perspective.
The company will launch its token – ESTS – as a proof-of-work that will be based on the public Ethereum blockchain.
The company director Christian Ellul said:
“Here at E&S, we have been involved in the blockchain and crypto world for over a year now. We are happy to learn that the Maltese authorities are supporting this by setting up the Malta Digital Innovation Authority. The intention is to present Malta as a hub to promote this technology which is very feasible, especially with the introduction of the required legislation to smooth the way forward.”
Blockchain-based Companies In Malta
Malta will soon become the first country worldwide to launch a regulatory framework for Distributed Ledger Technology, ICOs and Virtual Currencies.
The new regulations will allow blockchain-based companies to comfortably settle on the island and legally operate their businesses without compromising clients or investors.
This small island in the Mediterranean is hoping to position itself as the worldwide leader regarding the digital economy.
The precise details of the regulatory framework remain to be seen in the upcoming months. However, the fact that one of the biggest cryptocurrency exchanges, Binance is moving its operations to Malta, clearly signifies that the legislation will be somewhat favourable towards virtual currencies.
While the Maltese law firm is preparing to tokenise its services, you can read more about the ICO and cryptocurrency regulation in Malta.