The Malta Financial Services Authority issued a feedback statement further to industry responses to the MFSA consultation paper on the Virtual Financial Assets regulations to be issued under the Virtual Financial Assets Act. The MFSA received 21 responses from a wide range of industry participants and interested parties. Feedback was mainly related to certain definitions, exemptions, VFA licence classes, control of assets, reporting, audits and fees. The full statement can be viewed here.
The authority has now submitted Legal Notices to the minister to the Parliamentary Secretariat for Financial Services, Digital Economy and Innovation for approvals.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.