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ARTICLE · 10 JANUARY 2024

MFSA Launches Consultation Process Covering Chapter 2 Of The VFA Rulebook

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The Malta Financial Services Authority ("MFSA") has kept the momentum going ahead of the implementation of the Markets in Crypto-Asses Regulation ("MiCA").

MaltaFinance and Banking
Mark Caruana Scicluna
Mark Caruana Scicluna
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The Malta Financial Services Authority ("MFSA") has kept the momentum going ahead of the implementation of the Markets in Crypto-Asses Regulation ("MiCA"). We expect MiCA to have a significant impact on the EU/ EEA market in relation to crypto-assets.

On 19 December 2024, the MFSA issued a consultation process covering proposed updates to Chapter 2 of the VFA Rulebook. The objective is principally:

  • to remove the references to the role of the VFA Agent once the necessary legal changes to the Virtual Financial Assets Act (Chapter 590, Laws of Malta) have been published; and
  • to remove the various requirements in relation to the Systems Auditor and include provisions for issuers to include information on any technology audits within the whitepaper in line with MiCA.

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