The MiCA Authorisation Process: Key Updates from the MFSA

The MiCA Authorisation Process: Key Updates from the MFSA

The Malta Financial Services Authority (MFSA) has issued a comprehensive update on the authorization process for businesses under the new Markets in Crypto-Assets Regulation (MiCAR). As Malta transitions from the Virtual Financial Assets (VFA) Framework to the MiCA Act, businesses operating in the crypto-asset space need to align with the latest requirements.

Here’s what you need to know:
Who Does This Apply To?

◼️ Category A Entities: Businesses licensed under the VFA Framework before 30 December 2024.
These entities can benefit from a grandfathering period or opt for a simplified application process under the MiCA Act.
◼️ Category B Entities: Businesses in the process of applying for a VFA license but not licensed by 30 December 2024.
These entities must submit a new application and undergo the full authorisation process under the MiCA Act.
◼️ New Applications After 30 December 2024
For entities seeking authorisation as of 2025, application forms will be available on the MFSA website.

These will include:
◾️Crypto-Asset Service Provider Authorisation
◾️Issuer of Asset-Referenced Token Authorisation
◾️Whitepaper Notifications for e-money tokens and other crypto-assets.

Applications must adhere to the MFSA’s Authorisation Process Service Charter and include applicable fees outlined in the Markets in Crypto-Assets Act (Fees) Regulations, 2024.

◼️ Why Malta?
Malta’s robust regulatory framework under MiCA positions the jurisdiction as a leader in crypto-asset regulation, ensuring transparency, compliance, and innovation.

◼️ Need assistance?
At Contact Advisory Services, we specialize in guiding businesses through the MiCA compliance and authorisation process, including company formation and licensing support.
Reach out to us to explore how we can support your business in adapting to these changes and establishing a strong presence within Malta’s thriving crypto ecosystem.

https://lnkd.in/eaJA3hU2

Please view the MFSA key updates below :

https://lnkd.in/gmTs-5rh