The Malta Financial Services Authority (MFSA) is committed to
maintaining a robust regulatory environment for the virtual financial assets (VFA) sector. In
line with this commitment, the MFSA has initiated a public
consultation process to gather feedback on proposed changes to
Chapter 3 of the Virtual Financial Assets Rulebook (the
Rulebook).
The trigger causing these proposed changes is the Markets in
Crypto-Assets Regulation (MiCAR), which came into effect in June
2023. MiCAR will apply to crypto-asset service providers as of
December 30, 2024. To ensure a seamless transition for VFA Service
Providers, the MFSA is proactively aligning the VFA Framework,
(which namely comprises of the Virtual Financial Assets Act (Cap.
590, Laws of Malta), the Virtual Financial Asset Reulations (SL
590.01) and its respective Rules) with MiCAR before its date of
application. As part of this effort, the MFSA has released a draft
updated Chapter 3 of the above-mentioned Rulebook
