Malta Financial Services Regulator Seeks Strong International Ties To Combat Financial Crime

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The Malta Financial Services Authority (MFSA) announced its intention to “actively monitor” licensed cryptocurrency businesses in the country in a bid to prevent money laundering.

The announcement was made through a three-year strategic plan for 2019-2021 published on September 6. In the document, the financial authority stated that it would modernize its regulatory approach by using technology and other regulatory bodies. MFSA said:

We will continue to work closely with the FIAU [Financial Intelligence Analysis Unit] and other national and international authorities, including the newly set-up Malta Digital Innovation Authority (MDIA).

The published plan outlines MSFA supervising priorities and key areas the body plans to address. In addition to money laundering, MFSA will also address terrorist financing in relation to cryptocurrencies.

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