The overlap between the Maltese MiCA licence issued by the Malta Financial Services Authority and the one that will be required under EU law was highlighted during a breakfast meeting in London at the end of April.
The Virtual Financial Assets regulations were issued by the MFSA in 2018, and have been tried and tested over the past few years, positioning Malta as a hub for digital asset innovation. However, the need for an EU-wide framework has long been felt and the Markets in Crypto Assets Regulation (MiCA) entered into force in June 2023, with adoption required by December 2024. Entities which have a local licence therefore have the advantage of being familiar with the various requirements of the regulation.
The London event, which was organised by FinanceMalta in collaboration with the MFSA, explored the island as the jurisdiction of choice for crypto ventures, offering an innovative approach under the watchful eye of the regulator.
Speakers included H.E. Emmanuel Mallia, High Commissioner of Malta in the UK; the chairman of the Malta Financial Services Advisory Council Joseph Zammit Tabona; MFSA Head (Crypto & Payments) Fintech Supervision, Camille Pepos; and chairman of the VFA Forum at the Malta Chamber of Commerce and Industry Jonathan Galea. A panel of local service providers were able to share their insight and experience with the audience.
FinanceMalta was represented by its Chief Strategy Officer, Bernice Buttigieg.
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