Cryptocurrency exchanges in Malta.
Recently, Malta has become one of the main centers of fintech, for which it has received the name "blockchain's island." Malta's progressive attitude towards cryptocurrencies and distributed registry technology are of undoubted interest to a number of the world's largest cryptocurrency exchanges.
The main legal instrument for regulating cryptocurrency exchanges licensed in Malta is the Virtual Financial Assets Act. In accordance with it, a license from the Malta Financial Services Authority (MFSA) is required to provide the relevant services. To obtain a license, it is necessary to pass a check for compliance and reliability. In other words, the Financial Services Authority must be sure that the applicant will be ready to comply with all legal requirements related to the operation of the exchange.
Moreover, if the applicant is an individual, then his physical presence in Malta is mandatory. In cases where the applicant is a legal entity, it can be created in Malta or, subject to creation in authoritative foreign jurisdiction, should open its office in Malta.
It is determined at the state level that in some cases a VFA exchange operator may be appointed, whose role will be to participate in the management (operational management) of the exchange, however this function can also be performed by the exchange itself. In the case of the appointment of an operator, the Financial Services Authority establishes (using certain Rules) the procedure for the distribution of responsibilities between the VFA exchange and the VFA exchange operator.
Most experts believe that Malta (as a jurisdiction) is ideal for organizing cryptocurrency exchanges. Moreover, the fundamental principles of business organization in Malta were and remain: consumer protection, market integrity and financial stability.
Our experts are ready to assist in obtaining licenses for the implementation of various activities on the island.
