Ecosystem map 5 – Government Policy
– Where a DLT asset qualifies as a virtual token, its offering is not regulated under Maltese law. On the other hand, the issuing of VFAs and the offering of services in relation to VFAs are regulated under the VFA Act.
Ecosystem map 6 – Government Policy
– The issuing and offering of services in relation to financial instruments and electronic money are primarily regulated under MiFID II and the Electronic Money Directive, both as transposed under Maltese law.
Ecosystem map 7 – Government Policy
Issuers of VFAs and VFA service providers are required to obtain authorisation/licensing from The MFSA prior to commencing any activity and are also deemed to be subject persons for AML/CFT purposes.
