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ARTICLE · 20 JUNE 2024

MiCA's Impact On Malta's VFA Landscape

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As part of its package on digital finance, the European Commission launched the Markets in Crypto-Assets ("MiCA") framework in 2020. MiCA is the main EU regulation that regulates...

MaltaFinance and Banking
Chris Armstrong
Chris Armstrong
Szabolcs Toth
Szabolcs Toth

As part of its package on digital finance, the European Commission launched the Markets in Crypto-Assets ("MiCA") framework in 2020. MiCA is the main EU regulation that regulates crypto-assets and provides consistency between Member States and is directly applicable without requiring national-level transposition. The Virtual Financial Assets Act (Chapter 590, Laws of Malta), which Malta enacted in 2018, showed that it constituted a progressive state that supported financial innovation. The Malta Financial Services Authority (MFSA) has commenced consultations with relevant parties to guarantee a seamless shift to MiCA following the repeal of the VFA Act.

MiCA's Crypto-Asset Definition

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