MFSA launches first draft of virtual currencies’ regulation

The Malta Financial Services Authority said that it received very positive feedback on the regulation of services offered in connection with virtual currencies.

In a statement, MFSA claimed that this was done as part of the consultation process launched together with the Government on the establishment of an authority for digital innovation.

MFSA explained that the draft on Virtual Financial Assets Act, includes among others clauses regarding exemptions, fees, asset control, administrative fines and appeals.