Skip to main content

FinTech

FinTech

Practice Area Overview

Malta was one of the first jurisdictions to introduce a framework to regulate crypto-asset business way back in 2018. The Virtual Financial Assets (VFA) Act and its underlying framework brought about legal and regulatory certainty for operators wishing to provide services in relation to assets that are intrinsically dependent on, or utilise, Distributed Ledger Technology, in or from Malta. Having a regulatory framework governing crypto-asset activity puts the jurisdiction in an expedient position to adopt the proposed Markets in Crypto-Assets Regulation (MiCA) which forms part of the European Commission’s Digital Finance Package currently being negotiated at European-level. The transition from a home-grown regime to a European one is expected to be smooth and pragmatic.

Digital Finance goes beyond crypto. It encompasses a wider array of technology-enabled financial services offerings. In this context, the Malta Financial Services Authority (MFSA) proceeded to launch a FinTech Strategy and a FinTech Regulatory Sandbox with the objective of enabling FinTech adoption within industry incumbents and start-ups alike, and establishing a contained environment for FinTech operators to test their innovative products and services. Such initiatives show the jurisdiction’s openness in considering digitally innovative business proposals within financial services, supporting the fulfilment of Europe’s Digital Finance Strategy.

Mamo TCV’s reputation as one of Malta’s leading practices in the fields of technology and finance is without question. With the firm taking an active part throughout the various consultation processes which were undertaken by the Maltese Government and the MFSA over the past years, an excellent relationship was forged with all the involved entities and authorities, built on a mutual understanding of the policies regulating this sector. Our FinTech team is comprised of seasoned experts stemming from a variety of legal backgrounds, including finance, technology and corporate law.

Get In Touch
Are you ready for DORA? Is it applicable to you?
Find out more on our dedicated DORA section by clicking here
Scope of Services
  • Regulatory advice on the setting up of crypto-asset businesses and related ongoing obligations
  • Compliance support and assistance relating to the Virtual Financial Assets Act and its underlying framework
  • Tailored regulatory advice in relation to the licencing of business models proposing to use innovative technology arrangements in the traditional regulatory space
  • Support in the preparation of the MFSA FinTech Regulatory Sandbox proposal and application process
  • Compliance support for FinTech operators
  • Provision of bespoke regulatory training relating to Digital Finance
  • Drafting of documentation required to meet pre- and post-licencing obligations
  • Advice in relation to financial crime compliance
  • Drafting of contracts, T&Cs and agreements
  • Drafting of privacy policies and general data protection compliance
  • EU-wide management and consolidation of intellectual property portfolios

Key Contacts

Photo of Dr Katya Tua
Katya Tua

“Mamo TCV Advocates‘ fintech offering comprises specialists with financial services, banking, corporate and intellectual property expertise. The firm is equally adept at assisting with regulatory and transactional issues, and is thus instructed by clients from a range of major industry sectors, including leading local banks, pharmaceutical companies, domestic telecoms service providers, and multi-national software corporations. Katya Tua heads up the practice.”

The Legal 5002022

“The team at Mamo TCV Advocates offers advisory and transactional services to a range of clients from banks to telecoms providers to software companies. It has assisted clients in setting up a VFA exchange and advised on obtaining a license under the new virtual financial asset framework. The team is led by Katya Tua, who is experienced in investment services.”

The Legal 5002021

“What the team is known for A respected Maltese firm, Mamo TCV has developed an able and integrated FinTech practice assisting traditional financial institutions with the digital development of their businesses. The team is depended upon by a number of banks for advice in relation to data protection, IT outsourcing and IP matters, and by various FinTech entities in obtaining Malta's Virtual Financial Assets licence.”

Chambers Fintech2021

“They did not shy away from guiding us and enabling us in a very diplomatic manner with strong combined expertise.”

Chambers Fintech2021

Stay updated with our latest insights

Explore Insights
Furthering MiCAR in Malta by Chapter 647
FinTech

Fintech Insights #8 –
Furthering MiCAR in Malta by Chapter 647

Chapter 647 of the Laws of Malta, titled the Markets In Crypto-Assets Act (hereinafter referred to as “Chapter 647”), integrates all aspects of Regulation (EU) 2023/1114 of the European Parliament and Council on markets in crypto-assets (“MiCAR”). MiCAR regulates the issuers of asset-referenced tokens (“ARTs”), electronic money tokens (“EMTs”), other types of tokens, as well as the conduct of crypto asset service providers (“CASPs”). Malta’s presidential assent to Chapter 647 was given on the 5th of November 2024 through  Act No. XXXVI of 2024 (“Act 36 (2024)”); and it was promulgated on the same day. Similar to MiCAR, Act 36…
AI in Banking
Banking & Finance

AI in the Banking Sector – a Sword, a Shield or an Achilles’ Heel?

1. Introduction We are not only living in a digital age but also in an age where individuals and businesses increasingly depend on banks for their day-to-day activities. The convergence of these two factors is compounded with the increased use of artificial intelligence (AI) both generally and specifically in the banking sector. From a general perspective, AI start-ups in 2013 received USD 2 bn in investments globally which increased twelvefold in 2018 to USD 24 bn . The European Commission is also planning to invest a total of €112 mm in AI, quantum research and innovation . More specifically, recent…
Key representing digital resilience
DORA

Status of DORA Regulatory Technical Standards (“RTS”)

Regulation (EU) 2022/2554 of the European Parliament and of the Council of 14 December 2022 on digital operational resilience for the financial sector ( “DORA”) establishes the EU legislative framework for enhancing digital resilience within the EU’s financial industry. Enforcement commences on 17th January 2025 and the EU Commission is tasked with issuing Regulatory Technical Standards (“RTS”) which supplement DORA. The EU Commission publishes the RTS in the Official Journal as Commission Delegated Regulations, but they are largely based on the input of the European Supervisory Authorities (“ESA”) which comprise of ESMA, EBA and EIOPA. The draft RTS submitted to the European…
Mamo TCV Advocates - DORA Services
Banking & Finance
Six Months Until DORA: Mamo TCV Advocates Launches Detailed Overview
Mamo TCV Advocates - Integration of EU’s MiCAR in Maltese law
FinTech
FinTech Insights #7 –
Integration of EU’s MiCAR in Maltese law
Mamo TCV Advocates: Payments Insights #3 – Existing and Upcoming Strong Customer Authentication Requirements for PSPs
Banking & Finance
Payments Insights #3 –
Existing and Upcoming Strong Customer Authentication Requirements for PSPs