A crypto fund can be defined as a collective investment scheme managing a portfolio consisting mainly of cryptocurrencies. These types of funds are on the rise, mainly due to the rapid growth in value of several cryptocurrencies. The development o
Read more
Being at the forefront in regulating the cryptocurrency sector, Malta has implemented several regulations which provide a regulatory framework for service providers to operate, while also ensuring that investors are protected. In this article we s
Read more
On the 28th of October 2021, the Financial Action Task Force (“FATF”) published a document to update and expand its guidelines intended to help national authorities to further understand and regulate Virtual Asset (“VA”) activities and Vir
Read more
What are Sports Tokens? The ever-expanding world of cryptocurrency has recently taken its turn to enter into the popular and lucrative world of sport. News recently struck that a transfer of the highly renowned and talented football player Lionel
Read more
On the 24th September of 2021, China’s central bank and its National Development and Reform Commission announced that all crypto-currency transactions are to be considered illegal. Moreover, companies providing cryptocurrency trading services to
Read more
In a radical and unprecedented move by the president of El Salvador, traditional coins and banknotes are now co-existing alongside with cryptocurrencies in the Central America’s country of El Salvador. The President, Nayib Bukele stated that usi
Read more
The European Central Bank (“ECB”) has announced that starting from July 2021 it will be launching a digital euro project. The project is still in its infancy, and its scope covers citizens within the euro area and having the objective to maint
Read more
Money Laundering and Terrorism Financing (ML/FT) pose a serious threat to the integrity of the economy and financial system of the European Union (“EU”) and the security of its citizens. Thus, in the latest efforts to tighten the regulations o
Read more
The scope of the Virtual Financial Assets Act, Chapter 590 of the Laws of Malta (“VFA Act”), is largely aligned with the Regulation of the European Parliament and of the Council on Markets in Crypto-Assets (“MiCA Regulation”), the latter a
Read more
On 24th September 2020, a new extensive Digital Finance Package was adopted by the European Commission. This package aims to improve the competitiveness of Europe’s Fintech sector while mitigating risks and ensuring the financial stability of th
Read more
The Malta Financial Services Authority (the “MFSA”) has recently amended their Virtual Financial Assets (the “VFA”) Frequently Asked Questions (“FAQs”) adding FAQs in section 5 and a whole new section 10. The amendments supplement the
Read more
The following is the second part of an article which provides an overview of the major changes brought forward by the 5AMLD. E-money and prepaid cards There is now increased transparency regarding e-money products by reducing the threshold amounts
Read more
A Review of the EU Directive 2018/843 Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or ter
Read more
The Malta Financial Services Authority (“MFSA”) has received Letters of Intent from 34 prospective Virtual Financial Asset (“VFA”) Service Providers, 21 of which pertain to crypto-asset exchanges. These were operating under the tra
Read more
The UK Financial Conduct Authority (“FCA”) has recently published its ‘Guidance on Cryptoassets – Feedback and Final Guidance to Consultation Paper CP 19/3 (the “Guidance”). The Policy Statement followed the ‘Guid
Read more
On the 25th February 2019, the Malta Financial Services Authority (the “MFSA”) published the much-awaited Chapter 3 of the Virtual Financial Assets Rulebook (the “VFA Rulebook”). This Chapter is applicable to Virtual Financial Assets Servi
Read more
The European Securities and Markets Authority (“ESMA”) has recently published a document containing a list of thresholds below which an offer of securities would not need a prospectus. This list aims to create transparency around the different
Read more
The Malta Financial Services Authority (“MFSA”) has published a Consultation Document on its FinTech strategy (“Consultation Document”), with the aim of adopting a strategy where the MFSA focuses its efforts towards supporting such industr
Read more