Regulatory Alerts2024-12-10
Added · Updated
Circular to the Industry on the Authorisation Process for MiCA Applicants
The document establishes distinct authorisation pathways for crypto-asset service providers transitioning from the Virtual Financial Assets Framework to the Markets in Crypto-Assets Act based on their status before 30 December 2024. Entities holding a VFA licence prior to that date may use a simplified application procedure or the MiCA grandfathering period, while those without a licence must initiate a new full authorisation process. New entities seeking authorisation after 30 December 2024 must follow the Authorisation Process Service Charter and submit statements of intent to a specified email address. Application forms for various MiCA authorisations are scheduled for release on the MFSA website in 2025, with fees determined by the Markets in Crypto-Assets Act (Fees) Regulations, 2024.