MiCA Compliance: Transitioning from VFA vs. New Authorisation

The Malta Financial Services Authority (MFSA) published a circular on December 10, 2024, detailing the authorisation process for businesses impacted by the Markets in Crypto-Assets Regulation (MiCA).

Prior to December 30, 2024, companies that were already licenced under the VFA Act may proceed with a simplified process. The MFSA classified these companies under Category A. Such companies would be grandfathered and able to apply under a streamlined process during a grandfathering period. To transition, these companies must provide the requested documents to the MFSA committing to transition to MiCA and pay the applicable fees. This simplified route eases the compliance burden and guarantees that many businesses follow MiCA's regulatory standards. On the lapse of December 30, 2024, companies without a VFA licence before this date must go through the complete MiCA authorisation process. Companies in this regard are classified under Category B.

Radix makes it easy for businesses to navigate the MiCA authorisation process by providing them duly tailored support at each step. Whether it be our crypto asset licencing expertise or our understanding of regulatory requirements, we help to ensure all applications are accurate & for companies to continue to be compliant with all regulatory requirements. With our knowledge and insights on crypto regulations at Radix we are accustomed to navigate companies through regulatory pitfalls and passing the transition to MiCA compliance.

Whether an existing applicant moves over from VFA or a new entity, Radix is your trusted partner for helping with MiCA compliance.

Contact us today to book a consultation: info@radixmalta.com