The Malta Financial Services Authority () has issued a consultation on , associated with new technologies such as , the agency on Feb. 8.
In a consultation called “Guidance Notes on Cybersecurity,” the MFSA suggested that the agency’s cybersecurity system should comply with international standards, including guidelines by the European Banking Authority ().
The guidance notes are also based on a list of recognized cybersecurity policies such as Security Standard (CCSS) that was in 2014 to provide guidance for the secure management of .
The guidance notes are targeting professional funds that invest in virtual currencies, issuers, as well as agents and service providers for Virtual Financial Assets Act (VFAA), with latter ones as an intermediaries between clients and the authority.
Claiming that the rise of cybersecurity initiatives has caused even more sophisticated cyber attacks, the MFSA outlined the need to ensure that the industry is using the necessary cybersecurity policies in terms of risk management, customer protection, as well as market integrity within ecosystems created by new technologies.
The MFSA is seeking feedback from the industry community before proceeding with the of the guidance notes. A consultation period will be open to the public until March 8, 2019.
has taken a supportive stance toward the and crypto industries, and even as a “ island” due to its crypto-friendly . However, recently the International Monetary Fund () that the increasing growth of in Malta has caused significant risks of and financing in the island’s economy.
Previously, Maltese politician and a Member of the Parliament (MEP) Roberta Metsola claimed that powered by technology “provides more security,” and is “essentially about increasing trust,” delivering “more peace of mind.”
Published at Sat, 09 Feb 2019 06:02:59 +0000
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