Malta

IMF Issues Stability Assessment Report on Malta Financial Services Authority

IMF Issues Stability Assessment Report on Malta Financial Services Authority

The International Monetary Fund (IMF) has issued a Financial System Stability Assessment Report on the Malta Financial Services Authority (MFSA). The report states that there are alarming gaps in MFSA’s regulatory framework for anti-money laundering and combating financing of terrorism. Also, Malta-based blockchain companies are finding difficulty in opening bank accounts. The IMF has recommended employing of more resources to supervise blockchain and cryptocurrency service providers.

RnF to Offer Banking Services for Blockchain Companies in Malta

RnF to Offer Banking Services for Blockchain Companies in Malta

RnF Finance Limited, a Maltese company, has applied for authorization from Malta Financial Services Authority to serve as a credit institution in Malta. The firm has claimed to start the banking operations by mid-2019. It intends to invest in innovative technologies such as Blockchain and Artificial Intelligence in its initial years.