MFSA

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.