Malta Chamber, MFSA Tackle MiCA and Prediction Markets in Crypto Talks

The Malta Chamber’s Virtual Assets Business Section has pressed the MFSA for clearer communication on authorisation and regulatory treatment of prediction markets, during their latest quarterly meeting.

The Chamber welcomed the MFSA’s newly appointed FinTech Supervision team and stressed the need for responsiveness throughout the licensing process. The MFSA outlined its efforts to streamline authorisation while keeping robust oversight.

On the MiCA review, both sides focused on proportionality and harmonisation, ensuring the framework works for smaller operators and technology-led use cases. The discussion also aimed at strengthening Malta’s and Europe’s competitiveness within the single market.

A key point of contention was prediction markets involving crypto assets. Following an ESMA notice, the Virtual Assets Business Section argued that such instruments do not fall under MiFID. The sector wants regulatory clarity for operators active in this space.

On consumer protection, the Chamber and MFSA discussed closer cooperation to raise public awareness of scams and clone firms. The MFSA also shared supervisory priorities for CASPs, including reporting obligations, systems and controls effectiveness, market integrity, and ICT resilience.

The Chamber committed to maintaining these quarterly meetings as a standing channel for dialogue. The aim is to support a well-regulated, competitive virtual assets sector in Malta.