MFSA issues Discussion Paper on ICO’s and Coins

The Malta Financial Services Authority (MFSA) recently launched a discussion paper on virtual currencies thus initiating the process which would eventually lead to a policy framework that supports virtual currencies and related technologies. Such a framework would also provide effective protection for investors, financial market integrity and stability.

The consultation process concludes on January 11th 2018, with the MFSA inviting interested parties to submit any feedback via email to

Virtual currencies such as bitcoin are forms of digital money. Initial Coin Offerings are essentially forms of cryptocurrency crowdfunding, whereby start-ups sell investors a percentage of their newly-issued currency in exchange for fiat money, such as euro or dollars, or more established virtual currencies such as bitcoin.