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The Regulation of Crypto Funds in Malta

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

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Updated FATF Guidelines for a Risk-Based Approach for VFAs

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

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Sports Tokens in Malta

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

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China bans all Cryptocurrency Transactions

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

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A Digital Euro for the Digital Era

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

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A comparison between the MiCA Regualtion and the VFA Act

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

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The MiCA Regulation: A General Overview

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

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MFSA publishes amendments to the VFA FAQs

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

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Updates to the AML Directive – Part II

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

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Update to the AML Directive – Part I

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

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Consultation Document on MFSA’s FinTech strategy

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

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