July 3, 2019, The Blockchain Association today announces that approved member, Smartdec, has been appointed as one of the experts to assist audit firm BDO Malta in conducting Blockchain and DLT system audits as part of Malta’s new blockchain friendly regulatory framework.
SmartDec’s cooperation comes at an important time for BDO Malta, which, through its subsidiary company BDO Technology Advisory Limited, has been recognized as one of the very first Systems Auditor service providers by the Malta Digital Innovation Authority (MDIA). The process to obtain the MDIA’s recognition as a Systems Auditor was rigorous and requires the Systems Auditor to have deep knowledge and understanding of the technology being audited, as well as the systems audit principles applied across IT assurance frameworks.
The requirement to conduct Systems Audits came into force on 1st November 2018, as a result of Malta’s new regulatory framework surrounding Blockchain and Distributed Ledger Technology (DLT). System Audits are mandatory for Issuers and Service Providers applying for a licence under the Virtual Financial Assets Act and for Innovative Technology Arrangements (ITA) seeking a voluntary certification in Malta.
Sergei Pavlin, Chief Operation Officer at SmartDec stated, “SmartDec is looking forward to working with BDO Malta. I am persuaded that our collaboration will bring security in blockchains and DLTs to a brand-new level. Besides, it is always a pleasure to work with such responsible and professional people.”
Peter Tatarnikov, Chairman of the Financial Commission added: “We are proud to see our Association members being recognized as experts in their field and collaborate with important government bodies that are shaping the regulatory evolution of the Blockchain industry.”
SmartDec is a cybersecurity-focused technology consultant and developer, focused on blockchain security research, privacy, security audits and smart contracts running on major public networks such as Ethereum, Tezos, NEO, EOS, Bitcoin, and other platforms.
About the Blockchain Association
The Blockchain Association aims to unite cryptocurrency exchanges and financial firms transacting on the blockchain that are committed to upholding the highest standards of commercial honor and best business practices. In joining the professional community companies and individuals have the unique opportunity to consult with industry experts, legal and compliance professionals and fellow association members about regional regulations and compliance in key global markets where digital currencies are in very high demand.
For more information on membership and benefits, please contact us: [email protected].