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ARTICLE · 17 DECEMBER 2024

MFSA Updates On MiCAR Licence Application Process For CASPs And ISPs

GTG Legal
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The Malta Financial Services Authority (MFSA) has issued a circular to clarify the licensing requirements and authorisation procedures in view of the transition...

MaltaFinance and Banking
Cherise Abela Grech
Cherise Abela Grech
Catriona Cuschieri
Catriona Cuschieri

MiCAR

The Malta Financial Services Authority (MFSA) has issued a circular to clarify the licensing requirements and authorisation procedures in view of the transition from the current Virtual Financial Assets (VFA) Framework to the Regulation (EU) 2023/1114 on markets in crypto-assets (hereinafter referred to as 'MiCAR').

In view of this change in regulatory regimes, the authorisation procedure to be followed by an entity falling under MiCAR's scope may differ on account of its current authorisation profile. To this effect, entities shall fall under either one of the following categories:

Category A Entities Entities possessing a licence as per the VFA Framework, prior to 30th December 2024

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