A regulatory sandbox allows businesses to test innovative propositions in the market, with real consumers, using the protection of the financial services regulator. Sandboxes are open to authorised firms, unauthorised firms that require authorisation and technology businesses. The sandbox seeks to provide firms with: the ability to test products and services in […]

At Lexist, we have been developing the expertise to advise clients on fintech matters surrounding blockchain technology, initial coin offerings and cryptocurrencies for over three years. Our firm can offer cutting edge advice without some of the drawbacks of having to deal with a large international firm. We can draw on […]

Following the publication of the MFSA Consultation Noes on Cybersecurity , the MFSA has finalised its Guidance Note on Cybersecurity as a minimum set of best practices and risk management procedures to be followed in order to effectively mitigate cyber risks. This will also provide support for proactive ongoing monitoring as […]

Malta has issued VFA Guidance via a booklet of frequently asked questions (but not, regrettably, frequently asked questions by lawyers). https://www.mfsa.com.mt/wp-content/uploads/2019/01/20190125_VFARFAQs_v1.01.pdf

The Malta Financial Services Authority (‘MFSA’) and the Financial Intelligence Analysis Unit (‘FIAU’) published (June 21 2019) a Guidance Document for Credit Institutions, Payment Institutions and Electronic Money Institutions Guidance Document for Credit Institutions, Payment Institutions and Electronic Money Institutions opening accounts for FinTechs, intended to assist such institutions to […]

In January 2019, the UK’s Financial Conduct Authority (FCA) released a consultation on potential guidance on cryptoassets that provides useful direction on how cryptoassets will fall within the regulatory regime, guided from the Cryptoasset Taskforce’s October 2018 final report and with refernece to Her Majesty’s Treasury (HMT). HMT and FCA are exploring […]

By enacting the Virtual Financial Assets Act (VFAA), the Maltese Government has regulated the Blockchain / ICO / DLT industry. The law appoints the Malta Financial Services Authority (MFSA) as the designated authority to oversee this business. Since this industry has elements of the Financial Service Regulations (namely MiFID), it […]