Malta Sets Rules for Cryptocurrency Funds

The Malta government has proposed rules for cryptocurrency investment funds. A proposed rulebook has been published by The Malta Financial Services Authority (MFSA) dated 23 October 2017 to govern the investment efforts obtained from stakeholders and manage the risks concerned. After the consultation period that concludes next month, the release may happen to implement change in public policies led by technology. The government stated that they are seeking feedback from potential stakeholders through Nov. 10 to adjust the proposed rules accordingly.

The MSFA stated that:

“The MFSA is developing a rulebook to regulate Professional Investor Funds (“PIFs”) which have the investment in virtual currencies as their investment objective. The MFSA is presently considering whether Alternative Investment Funds and Notified Alternative Investment Funds should also be allowed to invest in virtual currencies. The main proposals introduced within this new rulebook aim at safeguarding the interest of investors and the integrity of the financial market in the context of virtual currencies.”

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