Though lax regulatory oversight has raised concerns about money laundering and other financial crime. Malta’s strategy to become a global enclave for digital assets appears to be working. Since the tiny Mediterranean state first adopted its “blockchain island” strategy in 2017, roughly $71 billion. Or 60 billion euros, worth of cryptocurrencies has passed through Malta, […]
In a recent interview, a Malta parliamentarian has sought to clarify the legal status of top cryptocurrency exchange Binance within the island country. Speaking to the media, Malta’s Junior Minister for Financial Services and Digital Economy, Bartolo Clayton, reaffirmed that Binance has never been licensed in the jurisdiction: As informed by the Malta Financial Services […]
The Malta Financial Services Authority (MFSA) has released feedback on the definition of security tokens and challenges such assets face in Maltese markets. In a paper published on Feb 25, the agency gave feedback on security token offerings (STO) from 18 industry stakeholders, including national agencies, regulated businesses, technology providers, law and consultancy firms, among […]
Tokenomica, a crypto asset exchange based in Malta, has announced over-the-counter, or OTC, cryptocurrency trading for large participants. The Mediterranean-based exchange now offers participants the ability to trade large amounts of BTC for Euros, separate from the exchange’s order books. The first announcement comes directly from Toenomica through its blog post on Feb 18. The […]
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 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.