Malta Revises Crypto Regulations to Align with MiCA: Public Consultation Open
Malta's Financial Services Authority (MFSA) has opened a public consultation period to align its crypto regulations with MiCA. The revised rulebook proposes changes for exchanges, custodians, and portfolio managers. Read more about the changes and how Malta aims to transition to the new regulations.
Posted 10 months ago in Blockchain
Malta’s Financial Services Authority (MFSA) has begun public consultation over changes in its crypto regulations to align with Europe’s Markets in Crypto-Assets (MICA) regulations. The consultation period is open until Sept. 29.
The revised rulebook proposes changes to the rules for exchanges, custodians, and portfolio managers in order to align with the upcoming MiCA laws. Malta first established its crypto framework in 2018 with the Virtual Financial Assets (VFA) and now aims to transition smoothly to the new regulations.
With the passing of the MiCA regulations, all existing regulations in EU nations will be replaced by universal MiCA laws. Malta, being an EU member, chose to amend its existing regulations to align with the universal EU laws rather than waiting for the laws to come into effect.
Malta’s VFA framework was based on MiFID principles, and the new MiCA laws derive several principles from the same rulebook. Fellow EU nation France has also amended its regulatory guidelines to align with MiCA, which will take effect in early 2024.
Malta's MFSA invites the public to participate in the consultation and provide feedback on the proposed changes to ensure a smooth transition to the new regulations.
Last updated 9/18/2023, 7:43:47 PM
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