Supporting innovation and new technologies for financial services in the area of crypto-assets.

Understanding the
VFA Framework

Authorisation
and Supervision

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Consumer Information 

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for more information

See the latest Circulars, the Nature and Art of Financial Supervision and Dear CEO Letters.

Understanding
the VFA Framework

The MFSA devised the Virtual Financial Assets Framework to support the innovation and new technologies for financial services in the area of crypto-assets whilst ensuring effective investor protection, financial market integrity and financial stability.

The Financial Instruments test
First step in your VFA application…

The MFSA introduced a Financial Instrument Test with the objective to determine whether a DLT asset, based on its specific features, is encompassed under (i) the existing EU legislation and the corresponding national legislation, (ii) the Virtual Financial Assets Act or (iii) is otherwise exempt.

The Test is applicable to (i) issuers offering DLT assets to the public or wishing to admit such DLT assets on a DLT exchange in or from within Malta; and (ii) persons providing any service and/or performing any activity, within the context of either the Virtual Financial Assets Act or traditional financial services legislation, in relation to DLT assets whose classification has not been determined.

Below you will find all relevant resources relating to the VFA Framework…

Any queries can be addressed to [email protected]

Consumer Information
and Guidance

The MFSA devised the Virtual Financial Assets Framework to support the innovation and new technologies for financial services in the area of crypto-assets whilst ensuring effective investor protection, financial market integrity and financial stability.

Important Notice:
Warning to the public regarding unlicensed VFA companies 

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Warnings issued following the expiry of the transitory period
Stay up to date with our.. Warnings

Consumer Protection and Guidance

In order to safeguard the interest of investors, the MFSA has issued several warnings regarding entities or websites which are of a dubious nature and which should therefore be avoided by consumers. The MFSA has also issued the below guidance note in order to further educate investors on how to identify and avoid schemes of a questionable nature within the crypto-asset sector. The guidance note also provides recommended actions for consumers who fall victim to such schemes.

Guidance notes
  Guidance Note to the Public (Cryptocurrency Scams)
  Nota ta’ gwida ghall-pubbliku (Cryptocurrency Scams)

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