Malta Proposes New Crypto Rules to Align with EU Regulations

Malta's regulator consulting public on proposed rule changes for crypto firms to align with EU's MiCA
Wants to rewrite rules for exchanges, custodians, portfolio managers to fit MiCA
Require crypto providers to have "orderly wind-down plan"
MiCA takes effect in 2024, allows providers to operate across EU with single license
As EU member, Malta wants to align crypto rules with MiCA for smooth transition
Home to crypto firms like Crypto.com and OKCoin
Consultation open until Sept. 29

coindesk.com

Relevant topic timeline:

9/21/2023

New EU Crypto Law Sets Rules for Stablecoins but Raises Compliance Questions

New EU crypto regulations, known as MiCA, could lead to a delisting of stablecoins and create uncertainty within the market as legal gray areas remain and no projects have been approved yet, according to a Binance executive.

9/21/2023

UK Crypto Firms Warned to Comply With New Promotion Rules or Face Fines

The UK's Financial Conduct Authority (FCA) has warned cryptocurrency businesses to comply with new financial promotion rules, as the majority of firms are ignoring them; failure to comply could result in imprisonment, fines, or both. Only 24 out of over 150 firms have responded to the FCA's survey regarding the new rules, which will severely restrict communication of financial promotions from unauthorized crypto businesses.