The Malta Financial Services Authority (MFSA) recently published a paper proposing a comprehensive legislative framework for STO. The agency sees STO as a bridge between traditional securities issuance and technology-backed securities issuance. The Security Token Offering MFSA Capital Markets Strategy was published as a consultation document and publicly solicited for public comment by the end of August 2019. The document aims to identify the views of various stakeholders in the Maltese economy, in particular the legislative framework governing the management of blockchain financial products such as digital assets, stock trading systems and international companies. The STO consultation document is divided into six sections, each focusing on specific factors related to STO.