Virtual Financial Assets Framework


    The MFSA devised the Virtual Financial Assets Framework to support the innovation and new technologies for financial services in the area of crypto-assets whilst ensuring effective investor protection, financial market integrity and financial stability. 

    The MFSA introduced a Financial Instrument Test with the objective to determine whether a DLT asset, based on its specific features, is encompassed under (i) the existing EU legislation and the corresponding national legislation, (ii) the Virtual Financial Assets Act or (iii) is otherwise exempt. The Test is applicable to (i) issuers offering DLT assets to the public or wishing to admit such DLT assets on a DLT exchange in or from within Malta; and (ii) persons providing any service and/or performing any activity, within the context of either the Virtual Financial Assets Act or traditional financial services legislation, in relation to DLT assets whose classification has not been determined. 

    Requests for applications, authorisations and approvals under the Virtual Financial Assets Act will be accepted by the MFSA from 1 November 2018 onwards through the designated online portal.

    Any queries can be addressed to fintech@mfsa.com.mt