Altcoin News: Malta Plans to More Actively Monitor Crypto Companies

September 9, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Marko Vidrih
Sep 9 · 2 min read

The Malta Financial Regulator (MFSA) has published a strategic plan according to which the government will be much more active in monitoring cryptocurrency companies than before.

According to the document, the MFSA will work closely with the financial intelligence analytical department and other national and international organizations in order to prevent cryptocurrency crime.

“Whilst Malta has taken unprecedented steps in bringing blockchain and crypto technology into the regulatory fold, we understand that such innovations present challenges in the prevention of money laundering and terrorism financing,” the regulator emphasized.

It is also noted that Malta will closely monitor and manage the risks associated with blockchain companies and cryptocurrency firms. This will help reduce risks for clients of such organizations.

“To monitor and manage business risks related to licensed virtual assets and cryptocurrency businesses, the MFSA has invested and is in the process of implementing SupTech intelligence tools. This will better position the MFSA to identify fraud, prevent money laundering and the funding of terrorism and protect consumers, investors and market stakeholders,” the agency said.

Note that in the spring of this year, the Malta regulator warned about the risks associated with investing in cryptocurrencies. They also issued a guide on how to recognize fraudulent schemes in this new market.

Author: Marko Vidrih


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Marko Vidrih

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I love writing, and that is why I do it. A passion for not only providing the information but for helping people understand.


The best damn place to read and write about crypto and blockchain.

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