Malta Regulator Proposes a Wind-down Plan for Crypto Providers!

Writer: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since a few years. He has earlier buying and selling expertise and has been working within the Fintech business since 2017.

Sep 18, 2023 16:40

Malta’s Monetary Providers Authority (MFSA) has launched a session on proposed adjustments to its crypto rulebook, which embrace requiring suppliers to have “an orderly wind-down plan.” The regulator is rewriting its guidelines for crypto exchanges, custodians, and portfolio managers to adjust to the European Union’s Markets in Crypto Property regulation (MiCA), which takes impact in 2024. MiCA is the world’s first complete crypto regulation in a serious jurisdiction, enabling service suppliers to function throughout the bloc with a single license. The session, which started on Monday, will likely be open till September 29.