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FinTech

Payments Insights #6 – EU Legislative Drafting Status of PSD3 and PSR Banking & FinanceFinTech

Payments Insights #6 – EU Legislative Drafting Status of PSD3 and PSR

When the Second Payment Services Directive ('PSD2') replaced the First Payment Services Directive, the EU had solidified the regulatory architecture governing payment services across the single market; and this has served the ecosystem well for the past decade. On 18th May 2026, the Chair of the European Parliament's Committee on Economic and Monetary Affairs wrote to the EU Council Presidency to confirm that if the EU Council transmits its position on the Third Payment Services Directive (“Proposed PSD3”) and the Payment Services Regulation (“Proposed PSR”) in its current form, the Committee will recommend adoption at second reading without amendment. The…
Mario Mizzi
27th May 2026
Fintech Insights #12 – MiCA & Prevention of Market Abuse FinTechInvestment Services & Funds

Fintech Insights #12 – MiCA & Prevention of Market Abuse

One of the aims of Regulation (EU) 2023/1114 (“MiCA”) is to bring stability to digital asset markets by ensuring that market abuse is prevented before it can even occur. In Malta, the MFSA enforces these standards through the powers given to it under Chapter 647 together with second-level measures, including European Commission Delegated Regulations and ESMA Regulatory Technical Standards. The rules on market abuse in MiCA closely correspond to those of the EU’s Market Abuse Regulation (“MAR”). For crypto-asset service providers (“CASPs”) the task is clear: prevent abuse and protect market stability with firm governance, disciplined disclosure, and surveillance that…
Mario Mizzi
20th May 2026
AI Act’s Impact on Businesses Operating Within the EU
AI Laws of the World: Mamo TCV Contributes to the First Edition of DLA Piper’s Comparative Guide Data Protection and PrivacyFinTechIntellectual PropertyNewsTelecoms, Media & Technology

AI Laws of the World: Mamo TCV Contributes to the First Edition of DLA Piper’s Comparative Guide

DLA Piper’s recently published ‘AI Laws of the World’ guide provides a 2025 Q3 snapshot of AI laws and proposed regulations across more than 40 countries (including all 27 EU Member States), highlighting key legislative developments, regulations, proposed bills, and guidelines issued by governmental bodies. The guide also includes a contribution made by Mamo TCV Advocates which illustrates the legal position in Malta. The guide underscores significant geographical variation in regulatory approaches and attitudes, yet also reveals numerous common concerns, with lawmakers and AI-focused organisations worldwide adopting and exchanging a variety of strategies. Whilst some jurisdictions have established their own…
Mamo TCV Advocates
26th August 2025
Euro symbol on banknote
ESMA Supports MFSA’s MiCA Approach FinTech

ESMA Supports MFSA’s MiCA Approach

On the 10th of July 2025, the European Securities and Markets Authority (ESMA) published the results of its first peer review of a Crypto-Asset Service Provider (CASP) authorisation under the Markets in Crypto-Assets Regulation (MiCA). The review, focused on Malta, marks an important milestone in the EU’s transition to a harmonised regulatory framework for crypto-assets. The review can be accessed on this link. Malta, which had already established a structured national framework through its Virtual Financial Assets (VFA) regime in 2018, was among the first jurisdictions to operationalise MiCA. The peer review confirms that the Malta Financial Services Authority (MFSA)…
Mamo TCV Advocates
10th July 2025
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Payments Insights #5 – When CASPs Overlap PSPs Banking & FinanceFinTech

Payments Insights #5 – When CASPs Overlap PSPs

The EU’s Markets in Crypto-Assets Regulation (MiCA) provides in Article 70(4) that a crypto-asset service provider (CASP) offering payment services related to its crypto activities must either obtain a payment institution authorisation itself or partner with an authorised payment service provider (PSP) under PSD2. This reflects the “dual nature” of certain crypto-assets: notably, MiCA classifies e-money tokens (i.e. stablecoins) as electronic money, meaning they are not only crypto-assets under MiCA but also “funds” under the Second Payment Services Directive (PSD2). In practice, this dual status raised uncertainty about whether CASPs dealing in stablecoins need a separate PSD2 licence in addition…
Katya Tua and Mario Mizzi
4th July 2025
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ICT Aspects of a MiCA Application DORAFinTech

ICT Aspects of a MiCA Application

On the 17th of June 2025, the Malta Financial Services Authority (“MFSA”) published a circular titled ‘Follow-Up Circular to the Industry on the Authorisation Process for MiCA Applicants’. The circular concerns the authorisation process for crypto-asset service providers (CASPs) under Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA), as integrated in Maltese law through Chapter 647.  This circular supplements the Authority’s communication of the 10th December 2024 which was explained in a previous legal update. The June 2025 circular introduces two additional annexes that are now required as part of a complete MiCA application file. These are Annex AX05 (Digital…
Mamo TCV Advocates
20th June 2025