Crypto-Assets The MFSA is responsible for the supervision of entities authorised under
the Markets in Crypto-Assets Act (Cap. 647). The Authority applies a risk-based, data-driven approach
in order to effectively supervise operators in the crypto-asset sector.
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Crypto-Assets

The Malta Financial Services Authority is responsible for the supervision of entities authorised under the Markets in Crypto-Assets Act (Cap. 647). These entities include:

  1. Persons providing crypto-asset services (more commonly known as ‘crypto-asset service providers’ or ‘CASPs’);
  2. Persons issuing or offering crypto-assets to the public, or seeking the admission of crypto-assets to trading (more commonly known as ‘issuers’). There are three (3) types of issuers regulated by MiCA, namely:
  • Issuers of asset-referenced tokens (‘ARTs’)
  • Issuers of electronic money tokens (‘EMTs’)
  • Issuers of crypto-assets other than ARTs or EMTs

The Markets in Crypto-Assets Act and any regulations and/or rules issued thereunder implement the Markets in Crypto-Assets Regulation in Malta.

Operators in the crypto-asset sector are reminded of the importance of remaining abreast of regulatory updates including those issued by the European Securities and Markets Authority and the European Banking Authority.

Crypto-Assets

Virtual Financial Assets

This section provides a list of the main Acts and subsidiary legislation which lay down the framework applicable to issuers of crypto-assets and crypto-asset service providers. These provide the regulatory structure for the supervision of these entities and include, amongst others, the powers of the MFSA to grant, refuse, cancel and suspend licences issued to operators in the crypto-asset space and to impose administrative penalties on these entities in specific circumstances. The Markets in Crypto-Assets Act (Chapter 647 of the Laws of Malta), which is the main legislation, also contains enabling clauses allowing the Minister responsible for the regulation of financial services to issue subsidiary legislation as well as the MFSA, as competent authority, to issue Rules to further supplement the provisions in the Act.