Malta: Finance and Banking

The Central Bank of Malta has issued new supervisory expectations for payment service providers offering instant payment services, establishing eleven key requirements to combat fraud in the instant payments environment. These expectations address critical areas including transaction monitoring, customer awareness, device registration protocols, and the implementation of automated fraud detection controls.

Payment Institutions offering crypto-related services face a complex new regulatory landscape under MiCAR, requiring separate authorisation beyond their existing licences. The framework introduces substantial compliance obligations spanning conduct rules, disclosure requirements, and capital adequacy standards, while imposing multi-layered costs that can reach tens of thousands of euros annually. Understanding whether the commercial benefits justify these regulatory burdens has become a critical strategic q

The European Union is advancing toward the establishment of a digital euro, a central bank digital currency designed to complement physical cash while preserving privacy and ensuring universal payment access. With the European Parliament backing the initiative and the Council setting a 2029 issuance target, the proposed regulation introduces legal tender status, holding limits, and dual online-offline functionality that must harmonize with upcoming payment services legislation. As trilogue negotiations prog