Malta Regulator Narrows Its Focus On Island's Crypto Frenzy

Law360 (September 6, 2019, 3:52 PM EDT) -- The financial regulator of Malta, a country whose progressive view of cryptocurrency has made it a hub for blockchain-oriented business, said Friday that it is implementing new tools to monitor for criminal activity in the fintech sector.

The Malta Financial Services Authority on Friday released a three-year strategic plan that addresses, among other things, steps it is taking to enhance its anti-money laundering supervision. That supervision extends to virtual asset and cryptocurrency businesses licensed on the Mediterranean island, which is home to cryptocurrency exchange Binance and many other industry leaders.

“Whilst Malta has taken unprecedented steps in bringing blockchain and crypto technology...

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