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

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Sep 18, 2023 16:40

Malta’s Financial Services Authority (MFSA) has launched a consultation on proposed changes to its crypto rulebook, which include requiring providers to have “an orderly wind-down plan.” The regulator is rewriting its rules for crypto exchanges, custodians, and portfolio managers to comply with the European Union’s Markets in Crypto Assets regulation (MiCA), which takes effect in 2024. MiCA is the world’s first comprehensive crypto regulation in a major jurisdiction, enabling service providers to operate across the bloc with a single license. The consultation, which began on Monday, will be open until September 29.